UPDATE 1-Martin Marietta to combine with Lhoist North America in $13.5 billion deal, WSJ reports

Martin Marietta Materials, Inc.

Martin Marietta Materials, Inc.

MLM

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June 29 (Reuters) - Martin Marietta Materials MLM.N 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.


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