'Vulcan Says It's Unaware Of $2B Mexican Offer For Assets; AMLO Announces Alleged Rejection Of Sweetened Bid For Plant; U.S. Firm Asked Biden Administration For Protection Last Year' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
Vulcan Materials Co. (VMC) has reportedly rejected a $2 billion offer from the Mexican government for its Caribbean coast assets, according to Mexican President Andres Manuel Lopez Obrador. However, Vulcan stated it was unaware of such a proposal. The company had previously sought protection from the Biden administration.
May 22, 2024 | 6:32 pm
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Vulcan Materials Co. (VMC) is involved in a dispute with the Mexican government over a $2 billion offer for its Caribbean coast assets. The company claims it was unaware of the proposal, despite the Mexican president's announcement.
The news introduces uncertainty regarding Vulcan's assets in Mexico, which could negatively impact investor sentiment and the stock price in the short term. The company's claim of being unaware of the proposal adds to the confusion and potential risk.
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