Martin Marietta Materials, Inc. announced it has consummated the acquisition of Lhoist North America, Inc. (LNA) on August 21, 2026. The transaction was valued at approximately $13.5 billion, consisting of both cash and newly-issued stock, establishing Martin Marietta as a leading U.S. producer of limestone products.
Key Details
- Transaction Terms: The acquisition was completed for approximately $7.0 billion in cash and 10,953,543 newly-issued shares of Martin Marietta common stock, which were valued at $6.5 billion.
- Governance & Shareholder Agreement: As part of the transaction, Martin Marietta's board was expanded from ten to eleven directors, with Philipp Niemann (CEO of Lhoist S.A.) appointed to the new seat. The seller, LNA Holding, is subject to a two-year lock-up period for the consideration shares, with 50% released after 12 months and the remaining 50% after 24 months.
- Board & Registration Rights: LNA Holding has been granted the right to designate one director to the board as long as it maintains at least a 10% ownership stake. Martin Marietta has also entered into a Registration Rights Agreement to facilitate the future resale of the shares issued in the transaction.