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Vulcan Materials Sold 13.2M Shares In Offering

The Associated Press

BIRMINGHAM, Ala. (AP) — Vulcan Materials Co., a cement, asphalt and gravel supplier, said Wednesday it sold about 13.2 million common shares priced at $41 apiece in its public offering.

The Birmingham, Ala., company plans to use the $521 million in proceeds toward debt reduction and general corporate purposes. The total number of shares sold included about 1.73 million shares bought by underwriters who had the option to buy more shares.

Goldman, Sachs & Co., Merrill Lynch & Co., J.P.Morgan and Wachovia Securities were the joint book-running managers of the offering.