# Lehigh Cement abandons $151M acquisition of Keystone Cement after FTC block

Lehigh Cement Co. LLC dropped its $151 million deal to acquire Keystone Cement Co. after the FTC voted to block the merger due to competition concerns.

- Type: Acquisition
- Announced: 2021-06-04
- Where: United States
- Value: $151.0M
- Status: cancelled
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Elementia](https://endata.com/companies/20375.md) (investor)
- [Giant Cement Holding](https://endata.com/companies/20376.md) (partner)
- [HeidelbergCement](https://endata.com/companies/20595.md) (investor)
- [HeidelbergCement](https://endata.com/companies/20595.md) (partner)
- [Lehigh Cement Company](https://endata.com/companies/30158.md) (acquirer)
- [Keystone Cement Company](https://endata.com/companies/32161.md) (target)

## Sources

- [news.bloomberglaw.com](https://news.bloomberglaw.com/antitrust/lehigh-cement-drops-151-million-keystone-deal-after-ftc-block), 2021-06-04: "This is great news for cement customers in eastern Pennsylvania and western New Jersey."
- [cemnet.com](https://www.cemnet.com/News/story/170893/lehigh-acquisition-of-keystone-cement-breaks-down.html), 2021-06-07: "The Federal Trade Commission has announced that Lehigh Cement Co (HeidelbergCement Group) and Keystone Cement Co (Giant Cement group) have decided to abandon their proposed merger."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.