Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”), a
leading securities law firm, announces that it is investigating the
acquisition of Texas Industries, Inc. (“TXI” or “the Company”)
(NYSE:TXI). The Company recently announced that it has entered into a
definitive merger agreement to be acquired by Martin Marietta Materials,
Inc. (“MLM”) (NYSE: MLM). Wolf Haldenstein’s investigation concerns
potential legal claims against the Board of Directors of TXI for
possible breaches of fiduciary duties and other violations of law
related to the Company’s entry into this merger agreement.
The terms of the deal call for TXI shareholders to receive .7 MLM shares
against every TXI share they own. Based on the closing price of MLM
stock on January 27, 2014, this represents a value of approximately
$71.95 per share, giving the entire transaction a total approximate
value of $2.7 billion. Wolf Haldenstein is investigating whether or not
the TXI Board of Directors acted in the Company’s shareholders’ best
interests by adequately shopping the Company to get the best possible
value. The $71.95 per share price that the merger agreement with MLM
represents is significantly less than, for example, the price target for
TXI stock of $80.00 per share set by at least one analyst on Bloomberg.
Wolf Haldenstein has represented individual and institutional investors
for many years, serving as lead counsel in numerous cases in United
States federal and state courts. Please visit the Wolf Haldenstein
website (http://www.whafh.com)
for more information about the firm.
If you are a shareholder of Texas Industries, Inc. and would like
additional information as to how the acquisition may affect your rights
as a shareholder, please contact us at:
Gregory M. Nespole
Wolf Haldenstein Adler Freeman & Herz LLP
270
Madison Avenue
New York, New York 10016
Phone Numbers:
(800) 575-0735
(212) 545-4600
Please visit the Wolf Haldenstein website (http://www.whafh.com)
for more information about the firm.
Email:
Classmember@whafh.com,
Nespole@whafh.com, or stone@whafh.com
and please reference “Texas Industries, Inc. Investigation.”
Attorney Advertising. Prior results do not guarantee or predict a
similar outcome.
Copyright Business Wire 2014