US: The US Department of Justice (DOJ) has stipulated that Taiheiyo Cement subsidiary CalPortland must sell three ready-mix concrete plants in San Diego, California, in order to be allowed to proceed with a planned US$712m acquisition of ready-mix concrete assets from Vulcan Materials. Concrete, aggregates and asphalt producer Holliday Rock would in turn acquire the former CalPortland assets.
DOJ Antitrust Division Acting Assistant Attorney General Omeed Assefi said "The Division's pursuit of structural remedies in this case provides a signal to the broader market about how to structure transactions that deliver efficiency to the market while protecting competition that benefits consumers."
