June 12, 2009 (FinancialWire) — Vulcan Materials Co. (NYSE: VMC) has priced a public offering of 11.5 million shares of common stock at $41 per share. Goldman, Sachs & Co. (NYSE: GS), Merrill Lynch & Co. (NYSE: MER), J.P.Morgan (NYSE: JPM) and Wachovia Securities are acting as joint book-running managers.

The company has granted the underwriters a 30-day option to purchase up to 1.725 million additional shares of its common stock. The offering is scheduled to close on June 17.

Vulcan estimates that it will see net proceeds from the offering, before giving effect to any exercise of the underwriters’ option, of around $452.6 million. The company plans to use the net proceeds for debt reduction and other general corporate purposes.

Birmingham, Alabama-based Vulcan Materials is a producer of construction aggregates, a producer of asphalt mix and concrete and a producer of cement in Florida.

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