WSJ reported that Martin Marietta Materials Inc. (MLM) is likely to explore a friendly offer for Vulcan Materials Co. (VMC) rather than launch another hostile takeover attempt.
In May, the Delaware Chancery Court enjoined Martin Marietta Materials for a period of four months from prosecuting a proxy contest, making an exchange or tender offer, or otherwise taking steps to acquire control of Vulcan shares or assets and from any further violations of the two confidentiality agreements between the parties. The injunction was lifted in September.
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