Texas Industries Spiking on End to Standstill Agreement

Shares of Texas Industries (NYSE: TXI) spiked more than 30% intra-day after an announcement that the company and NNS Holdings have ended a Standstill Agreement which had prevented NNS from taking more than a 20% stake in Texas Industries.

At last check, the shares had come well off of their highs and were trading up just 17.80% to $29.77. Volume has been very heavy over the last few minutes.

Texas Industries, Inc., is a supplier of heavy construction materials in the southwestern United States. The Company operates in three segments: cement, aggregates and consumer products. Its cement segment produces gray portland cement and specialty cements.