Reuters: Regulatory News: UPDATE 1-Vulcan says court denies Martin Marietta's motion

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UPDATE 1-Vulcan says court denies Martin Marietta's motion May 14th 2012, 18:45 Mon May 14, 2012 2:45pm EDT May 14 (Reuters) - Construction materials maker Vulcan Materials Co said a court has denied smaller rival Martin Marietta Materials Inc's motion for a stay on an order barring it from pursuing a $5.3 billion hostile takeover of Vulcan for the next four months. A Delaware judge had earlier barred Martin Marietta from pursuing its proxy contest and bidding for Vulcan for four months citing a violation in a non-disclosure agreement. Martin Marietta had made an all-stock bid for Vulcan in December to create the world's largest producer of sand, gravel and other building materials. Shares of Vulcan fell 2 percent to $39.19, while those of Martin Marietta's shares dropped 1 percent to $76.23 in late-afternoon trading on the New York Stock Exchange.

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