Ash Grove to buy more than $63.1 million of Eagle Materials stock

By Lisa Kerner

Charlotte, N.C., Oct. 16 - Ash Grove Cement Co. said it has "good faith intention" to purchase more than $63.1 million of Eagle Materials Inc. common stock, including shares already held by Ash Grove.

According to a form 8-K filing with the Securities and Exchange Commission, Ash Grove has already acquired about 5.0% of the outstanding shares of common stock of Eagle Materials for approximately $53.5 million.

Ash Grove has notified Eagle Materials of its intention and made a filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, related to its expected purchase, the filing said.

Dallas-based Eagle Materials manufactures, distributes and sells gypsum wallboard and cement primarily in the United States.

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