Martin Marietta to buy Lhoist North America for $13.5 billion in cash and stock
On June 27, 2026, Martin Marietta agreed to acquire all equity interests in Lhoist North America from LNA Holding for $13.5 billion, consisting of $7 billion in cash and 10,953,543 newly issued Martin Marietta shares valued at $6.5 billion. After closing, LNA Holding is expected to hold about 15% of Martin Marietta's common stock, and the company has a $7.0 billion bridge loan commitment to fund the cash portion, so shareholders would face a larger share count and significant new borrowing if the deal closes.
Key points
- Total consideration is $13.5 billion: $7 billion in cash plus 10,953,543 shares valued at $6.5 billion, based on the 15-day volume-weighted average price ending June 26, 2026
- Closing requires expiration or termination of the Hart-Scott-Rodino waiting period and other regulatory approvals; long stop date is October 31, 2026, extendable to June 15, 2027
- Martin Marietta would pay a $350 million termination fee if the deal ends under specified circumstances tied to failure to obtain regulatory clearances by the Extended Long Stop Date
- A 364-day, $7.0 billion unsecured bridge facility from Goldman Sachs Bank USA and Goldman Sachs Lending Partners LLC is committed to finance the cash consideration
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:30 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 29, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.