Texas Industries investor Shamrock buys 362,800 additional shares

By Lisa Kerner

Charlotte, N.C., May 5 - Texas Industries, Inc. investor Shamrock Activist Value Fund, LP bought 362,800 shares of the company's stock for a total of $11.73 million between April 28 and May 1.

The shares were priced from $31.73 to $32.98 each, according to a schedule 13D/A filed on Tuesday with the Securities and Exchange Commission.

In January, Shamrock suggested ways Texas Industries could improve its communications with shareholders as well as its corporate governance practices.

According to a prior SEC filing, Shamrock vice president Dennis A. Johnson met with Texas Industries representatives to discuss:

• Eliminating the company's classified board structure;

• Implementing a majority voting standard for the election of directors;

• Eliminating all supermajority voting requirements; and

• Eliminating Texas Industries' poison pill rights agreement.

Shamrock beneficially owns 1,876,244 shares, or 6.77%, of the Dallas-based cement company.

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