June 29 (Reuters) – Martin Marietta Materials has struck a deal to merge with limestone supplier Lhoist North America in a deal worth $13.5 billion, including debt, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Shares of the Raleigh, North Carolina-based company were down about 1.5% in premarket trade.
The report added that Martin Marietta would use a mix of $7 billion in cash along with shares valued at $6.5 billion to fund the deal.
Martin Marietta and Lhoist could not immediately be reached for comment.
Lhoist’s Berghmans family is expected to own roughly 15% of Martin Marietta upon the deal’s close, the report added.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Shailesh Kuber and Devika Syamnath)
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