Judge Blocks Martin Marietta-Vulcan Hostile Bid

摘要

Chancellor Leo E. Strine, Jr. of the Delaware Chancery Court has temporarily blocked Martin Marietta Materials Inc. from making a hostile bid for Vulcan Materials Co. The judge ruled that Martin Marietta violated a nondisclosure agreement with Vulcan and used confidential information in forming its $5.3 billion bid and proxy fight. The ruling prevents Martin Marietta 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.