WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Texas Industries, Inc. (NYSE: TXI)?
- Did you purchase any of your shares prior to January 28, 2014?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Texas Industries, Inc. (“TXI” or the “Company”) (NYSE: TXI) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Martin Marietta Materials, Inc. (“MLM”) (NYSE: MLM) in a transaction valued at approximately $2.7 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/texas-industries-inc-txi.
Under the terms of the agreement, public shareholders of TXI will receive 0.700 shares of MLM common stock for each share of TXI they own. Based on MLM’s closing stock price on January 27, 2014, TXI shareholders would have received consideration valued at approximately $71.95 per share.
The investigation concerns whether TXI’s board of directors failed to adequately shop the Company and obtain the best possible value for TXI’s shareholders before entering into an agreement with MLM. According to Yahoo! Finance, at least one analyst has issued a price target for TXI stock at $80.00 per share.
If you own the common stock of TXI and purchased your shares before January 27, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/texas-industries-inc-txi.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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