Vulcan Materials Co.’s founding family sued the 103-year-old gravel-maker and its top managers, accusing them of “gross mismanagement,” in part for rejecting a $4.7 billion sale to competitor Martin Marietta Materials Inc.
U.S. prosecutors are preparing what would be the first criminal charges against BP Plc staff after the worst U.S. oil spill last year, the Wall Street Journal reported, citing unidentified people familiar with the matter.
Daniel Mudd, the former chief executive officer of Fannie Mae, and Richard Syron, ex-CEO of Freddie Mac, were sued by the U.S. Securities and Exchange Commission for understating by hundreds of billions of dollars the subprime loans held by the firms.
BP Plc and plaintiffs suing over the 2010 Gulf of Mexico oil spill are discussing a $14 billion accord that would be funded with money originally set aside by the company for out-of-court settlements, according to three people familiar with the talks.
Martin Marietta Materials Inc. won an accelerated appeal from the Delaware Supreme Court in a hostile takeover case against rival gravel-producer Vulcan Materials Co. as its shares fell the most in three years, halting trading.
Now that Martin Marietta Materials Inc. is cleared to renew its pursuit of Vulcan Materials Co. and create the world’s biggest supplier of gravel and sand, it needs to boost the initial bid by 40 percent to cement a deal.