Cement Companies Reach Merger Settlement With California, DOJ

California Attorney General Rob Bonta and the US Department of Justice announced a merger settlement between two California concrete companies in California on Thursday, resolving concerns that the consolidation would lead to higher prices and reduced quality.

The settlement between CalPortland Co. and Vulcan Materials Co. requires the former to divest three ready-mix concrete plants in the San Diego area to a new market entrant, Holliday Rock, the state DOJ said in a news release. It also mandates that CalPortland hire at least 90% of existing Vulcan employees at acquired facilities statewide and maintain those jobs for at least nine ...