Martin Marietta Corporation was founded in 1961 through the merger of The Martin Company and American-Marietta Corporation. The combined company became a leader in aggregates, cement, chemicals, aerospace, and electronics.
In 1982 Martin Marietta was subject to a hostile takeover bid by the Bendix Corporation. Bendix bought the majority of Martin Marietta shares and in effect owned the company. However, Martin Marietta's management used the short...
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Martin Marietta Corporation was founded in 1961 through the merger of The Martin Company and American-Marietta Corporation. The combined company became a leader in aggregates, cement, chemicals, aerospace, and electronics.
In 1982 Martin Marietta was subject to a hostile takeover bid by the Bendix Corporation. Bendix bought the majority of Martin Marietta shares and in effect owned the company. However, Martin Marietta's management used the short time separating ownership and control to sell non-core businesses and launch its own hostile takeover of Bendix (known as the Pac-Man defense). The end of this extraordinarily bitter battle saw Martin Marietta survive; Bendix was bought by Allied Corporation.
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