Impending ownership changes of two concrete and cement businesses, one each side of the Atlantic, remind us how reasonably regulated free markets overwhelmingly trump those hamstrung by heavy-handed government agencies. Consider the investor-sanctioned Martin Marietta Materials–Texas Industries merger versus the British government-ordered creation of a portland cement, GGBF slag and ready mixed producer from the sale of existing players’ assets. The driving forces behind the transactions are the embrace or rejection of realities of a market rewarding efficiency versus fragmentation.
Read MoreSaturday, April 20, 2024
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