This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NNS Holding Reaches Agreement With Texas Industries

NNS Holding, the largest stockholder of Texas Industries, Inc. (NYSE: TXI), today announced that it has reached an important agreement with TXI regarding its shareholder rights plan and NNS Holdings’ stock ownership.

Under the agreement, TXI will increase the ownership limit under its shareholder rights plan from 15% to 20%, and will terminate the plan altogether on December 31, 2010. NNS Holding agreed to not acquire more than 20% of TXI’s shares and to other customary standstill restrictions until December 31, 2011.

“This agreement will create value for all stockholders and restore investor confidence,” said Nassef Sawiris, a director of NNS Holding. Mr. Sawiris continued “the actions taken by TXI management and its board of directors to address our concerns will position TXI for improved performance and corporate governance, and properly position its stock in the market. TXI operates in a competitive and dynamic global industry which is undergoing consolidation. As a long-term stockholder in TXI, we are pleased that TXI management and its board of directors have removed obstacles which had impaired stockholder value.”

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
TXI $92.10 -0.28%
AAPL $126.44 0.00%
FB $87.28 0.00%
GOOG $523.40 0.00%
TSLA $280.02 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs