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Mexico's AMLO Says Vulcan Rejected $2 Billion Offer for Caribbean Port and Quarry

May 22, 2024, 04:28 PM

Mexico's President Andrés Manuel López Obrador (AMLO) announced that Vulcan Materials rejected a $2 billion offer from the Mexican government to purchase the US company's Caribbean coast assets, including its port and quarry. This offer was reportedly five times higher than a previous $360 million bid. However, Vulcan Materials stated that it is unaware of any such offer from the Mexican government. A company spokeswoman mentioned uncertainty about what AMLO was referring to during the press conference. The US firm had previously asked the Biden Administration for protection last year.