CalPortland Company entered into a definitive agreement to acquire Cement Plant and Related Distribution Terminals in California of Martin Marietta Material for $350 million on August 9, 2022. The transaction is expected to close in the first half of 2023, subject to regulatory approvals and other customary closing conditions. Robert I. Townsend III, George F. Schoen, Christopher K. Fargo, Matthew J. Bobby and Matthew Morreale of Cravath, Swaine & Moore LLP acted as legal advisors to Martin Marietta Materials, Inc. Evercore Inc. (NYSE:EVR) acted as financial advisor to Martin Marietta Materials, Inc. in the transaction.