MLM News & Events

Stock futures are higher before the open, with the Nasdaq leading gains as investors move back toward growth and technology names after last week's pressure. Oil prices are also easing from recent highs, reducing fears that a geopolitical shock could spill into inflation expectations.The key theme this week is shifting from geopolitics back toward macro data. Investors are watching labor market releases, including JOLTS and Thursday's payroll report, for clues on the Federal Reserve path. Markets continue to weigh a resilient economy against concerns that sticky inflation could keep the Fed more restrictive than expected.In pre-market trading, S&P 500 futures rose 0.76%, Nasdaq futures rose 1.03% and Dow futures rose 0.41%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -PetMed Expressup 32% after SilverCape Investments released an open letter to its board of directors calling on the board to engage with SilverCape on a revised proposal to acquire all outstanding shares of common stock of PetMed for $3.00 per share in cash with no financing contingencyCharterand SpaceXand up 24% and 2%, respectively, after a report that the companies discussed partnering on a consumer mobile phone offeringComcastup 21% after announcing its intention to separate into two independent publicly traded companies through a tax-free spin-off of NBCUniversal and SkyIridiumand Rocket Labup 22% and 9%, respectively, after Rocket Lab agreed to acquire all the outstanding shares of Iridium common stock for $54 per share in a cash and stock transactionLOWER -Zymeworksand Theravance Biopharmaboth down 2% after Zymeworks entered into a definitive agreement to acquire Theravance Biopharma for $17.00 per shareMartin Mariettadown 2% after entering into a definitive agreement to combine with Lhoist North America, a subsidiary of Lhoist Group, for $13.5B in cash and shares of Martin Marietta common stockBritish American Tobaccodown 1% after reporting its Fit2Win cost-cutting initiatives will impact 9,000 jobsVerizondown 1% after BT Groupand the company announced the signing of an agreement to combine their respective international enterprise operations into a 50:50 joint venture

Martin Marietta announced that it has entered into a definitive agreement to combine with Lhoist North America, a subsidiary of Lhoist Group, for $13.5B in cash and shares of Martin Marietta common stock. The transaction is expected to be completed in the second half of 2026, subject to regulatory approvals. LNA operates a network of 20 quarries and production facilities and 45 distribution terminals, generating $1.8B in gross sales and $786M of adjusted EBITDA for the twelve months ended December 31, 2025. Martin Marietta expects to realize approximately $85M in annual run-rate cost synergies, with additional potential upside from commercial and operational opportunities. The transaction is expected to be accretive to earnings and margins in the first full year following close. The transaction values LNA at an enterprise value of approximately $13.5B, implying a multiple of approximately 15x adjusted EBITDA for the twelve months ended December 31, 2025, including run-rate cost synergies. Consideration will consist of $7B in cash and shares of Martin Marietta common stock valued at $6.5B based on the volume-weighted average price per share over the 15 consecutive trading days prior to signing. Upon closing, the Berghmans family is expected to own approximately 15% of Martin Marietta on a fully diluted basis and will have the right to appoint one director and one observer to Martin Marietta's board of directors. Martin Marietta expects its combined net leverage ratio to be approximately 3.7x at closing with a target of reducing this ratio to below 2.5x within 24 months of closing through strong free cash flow generation. The transaction is expected to close in the second half of 2026 subject to receipt of required regulatory approvals.

Martin Marietta has agreed to acquire Lhoist North America in a $13.5B deal funded with roughly $7B in cash and $6.5B in stock, The Wall Street Journal's Lauren Thomas reports. According to people familiar with the transaction, a transaction could be announced as soon as Monday morning.