Anderson proposes $48M buyout to take Books-A-Million private

Tallahassee, FL 4/30/12 (StreetBeat) -- Books-A-Million Inc.’s (Nasdaq: BAMM) majority owner and chairman today announced a plan to acquire the public books retail giant for roughly $48.8 million and take it private.

Clyde B. Anderson, whose family owns about 53 percent of the Birmingham-based company’s common stock, would pay $3.05 per share at a 20 percent premium, he said in a release today.

If the Books-A-Million board gives its approval, the Anderson family will merge the company with a newly formed acquisition entity and retain the current management, the release says.

The offer comes at a low point for the company’s stocks and sales, which haveslumped as new technology continues to displace traditional books in public favor.

The merger would take yet another public company headquarters from Birmingham, which is currently home to 14, according to the BBJ's 2012 Book of Lists. Vulcan Materials Co. (NYSE: VMC), one of Birmingham's largest public companies, is facing a takeover.

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Martin Marietta proposes combination with Vulcan via stock-for-stock deal

Orlando, FL 12/12/11 (StreetBeat) -- Construction-materials company Martin Marietta Materials (NYSE:MLM) just announced a hostile takeover attempt for larger rival Vulcan Materials (NYSE:VMC). Martin Marietta said the combined companies would have an enterprise value of $11.4 billion.

The stock-for-stock deal values Vulcan Materials stock at $4.7 billion, or $36.69 a share, based on Friday’s closing share prices.

Martin Marietta also said it will maintain its current dividend payout level if it buys Vulcan. Vulcan shares closed trading Friday at $33.55. Shares of Vulcan jumped about 9.6% Monday to $36.76 before they tripped a circuit breaker and were halted. Martin Marietta has a smaller market value than Vulcan– $3.3 billion compared to $4.1 billion.

In a letter released today, Martin Marietta’s CEO said his company and Vulcan had been discussing a deal for more than a year-and-a-half. Vulcan “disengaged” from the deal discussions some months ago, Martin Marietta CEO C. Howard Nye wrote to his Vulcan counterpart. Nye said he is “disappointed that despite these substantial benefits, Vulcan has been unwilling to move ahead towards a definitive agreement.”

Deutsche Bank, J.P. Morgan and Skadden Arps Slate Meagher & Flom LLP are advising Martin Marietta on the deal.

Martin Marietta said in its news release that it also filed lawsuits today “seeking to ensure that Vulcan’s shareholders have the opportunity to directly assess Martin Marietta’s offer.” And if the hostile takeover doesn’t work, Martin Marietta said it plans to seek to replace five members of Vulcan’s board next year.

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