NEW YORK, Jan. 30, 2014 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Texas Industries, Inc. ("TXI" or "the Company") (NYSE: TXI) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Martin Marietta Materials, Inc. ("MLM") (NYSE: MLM).
Click here to learn more about the investigation http://zlk.9nl.com/texas-industries-txi , or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, TXI shareholders will receive 0.7 shares of MLM for each share of TXI common stock they own. Based on the closing price of MLM stock on January 27, 2014, this represents a value of approximately $71.95 per share. The transaction has a total approximate value of $2.7 billion. The investigation concerns whether the TXI Board of Directors breached their fiduciary duty to TXI shareholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether MLM is underpaying for TXI shares. In particular, at least one analyst set a price target for TXI stock at $80.00 per share.If you own TXI common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/texas-industries-txi . Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (866) 367-6510 www.zlk.com SOURCE Levi & Korsinsky, LLP