Martin Marietta May Boost Hostile Offer as Vulcan Rises Past Bid

Martin Marietta Materials Inc. may need to sweeten its hostile $4.8 billion bid for Vulcan Materials Co. after the company’s shares topped the offering price to create the world’s largest supplier of sand, gravel and stone.

Vulcan rose 15 percent to $38.70 at the close in New York, 3.7 percent more than Martin Marietta’s proposed exchange of 0.5 share of its own stock for each Vulcan share. Martin Marietta, based in Raleigh, North Carolina, rose 1.7 percent to $74.61.