Raleigh-based Martin Marietta wants to merge with its main competitor. What started out as a private negotiation is now a hostile takeover.
Martin Marietta wants to merge with Birmingham, Alabama-based Vulcan Materials. The two companies are the U-S leaders in the production of rock, gravel, sand and other building materials. Ward Nye is the C-E-O of Martin Marietta.
Ward Nye: "As is well know, these last few years have been challenging for our industry given economic recession and reduction in infrastructure, commercial and residential construction projects."