American quarry company Vulcan Materials rejects Mexico's $385M buy-out offer for its Caribbean coast property, valuing it at $1.9B amid expropriation threat.
An American quarry company, Vulcan Materials, has rejected Mexico's criticism and buy-out offer, with President Andrés Manuel López Obrador offering $385 million for the company's Caribbean coast property. The company claims the offer "substantially undervalues our assets" and has valued the property at $1.9 billion. Mexico's president has previously threatened to expropriate the quarry company's property, arguing its operations have damaged the region's fragile underground river and cave systems.
May 27, 2024
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