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BIRMINGHAM, Ala. (AP) - Vulcan Materials Co., a maker of construction aggregates, plans to acquire Florida Rock Industries Inc. for $4.6 billion, the two companies said Monday.
The cash and stock transaction has been approved by the companies' boards of directors, according to a statement from the companies.
Florida Rock, based in Jacksonville, Fla., produces construction aggregates, cement, concrete and concrete products. Between the two companies, reserves of aggregates total about 13.9 billion tons, which would increase Vulcan's reserves more than 20 percent, the statement says.
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