Latham & Watkins and Cravath, Swaine & Moore LLP advised on Martin Marietta Materials, Inc.‘s US$13.5 billion cash-and-stock combination with Lhoist North America, Inc., a subsidiary of Lhoist Group.
Under the definitive agreement, Martin Marietta will combine with Lhoist North America in a transaction expected to close in the second half of 2026, subject to regulatory approvals. Upon completion, Financière de Gestions Internationales (FGI), the Berghmans family holding company, will become Martin Marietta’s largest single shareholder and will have representation on the company’s Board of Directors.
Latham & Watkins advised Lhoist Group on the transaction.
The Latham team is led by Paris corporate partners Pierre-Louis Cléro and Thomas Forschbach and Chicago corporate partners Christopher Drewry and Max Schleusener, with Paris associates Aymerick Fradin, Emma Dalle Nogare, an Cyril Thobois and Chicago associates Henna Jalal, Jaisel Patel, and Noreen Latif.
Cravath, Swaine & Moore LLP advised Martin Marietta Materials on the transaction.
The Cravath team was led by partners Robert I. Townsend III, Matthew G. Jones and Maria Ricaurte and includes associates Josh Santilli, Ceara Maria Burns, Seung Hyung (Michael) Lee, Leon K. Yang, Lynn Mei Chong and Alexandra E. Stolfe on M&A matters; partners Joseph D. Zavaglia and Douglas Dolan and associate Yeana Lee on capital markets matters; partner Stephen M. Kessing, of counsel D. Ana Choi and associate Thomas P. Wiig on banking matters; partner Christopher K. Fargo and associate Josh Banafsheha on tax matters; partner Sasha Rosenthal-Larrea and of counsel Carys J. Webb on intellectual property matters; partner Matthew J. Bobby, of counsel Sarah W. Colangelo and associate Keanna N. Joseph on executive compensation and benefits matters; partner William D. Podurgiel and associate Alexander MacDonald on corporate governance matters; of counsels Joyce Law and Brian M. Budnick on real estate matters; and of counsel Annmarie M. Terraciano and Star S. Gulant on environmental matters. Summer associates Anna Donlan and Jacob D. LaRose also worked on M&A matters, summer associate Amy Kim worked on tax matters and summer associate Amber Patrick worked on intellectual property matters.
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