NEW YORK (AP) — Martin Marietta Materials is buying its Texas Industries in an all-stock deal worth $2.06 billion, creating a leading supplier of aggregates and heavy building materials with a strong presence in large, fast-growing markets like California and Texas.

Martin Marietta said Tuesday shareholders of Texas Industries will get 0.7 shares of Martin Marietta for each share held. Based on Monday’s closing price, that amounts to $71.95 per share.