Brief: Cardinal Infrastructure Group Enters Into Amended Agreement For Hughes Brothers Construction Deal
Mon 13:30
BRIEF-Cardinal Infrastructure Group Enters Into Amended Agreement For Hughes Brothers Construction Deal Oct 19 (Reuters) - Cardinal Infrastructure Group Inc. CDNL.O:
ENTERS INTO AMENDED AGREEMENT FOR ACQUISITION OF HUGHES BROTHERS CONSTRUCTION INC.
DEAL VALUED AT $357.50 MILLION WITH 60% CASH, 40% STOCK CONSIDERATION
REVISES EARNOUT UP TO $162.50 MILLION BASED ON ADJUSTED EBITDA FOR 12 MONTHS ENDING JUNE 30, 2027
HUGHES BROTHERS OWNERS TO RECEIVE $214.50 MILLION CASH AND 5,255,420 SHARES AT $27.21 PER SHARE
ACQUISITION EXPECTED TO BE IMMEDIATELY ACCRETIVE TO ADJUSTED EBITDA PER SHARE
Source text: ID:nPn4VLN8Wa
Further company coverage: CDNL.O
((Reutersbriefs@thomsonreuters.com;))
Recent news on Cardinal Infrastructure
See all newsBrief: Cardinal Infrastructure Group Enters Into Amended Agreement For Hughes Brothers Construction Deal
Cardinal Infrastructure falls after deal to buy Hughes Brothers
Brief: Cardinal Infrastructure Group Acquisition Valued At $357.50 Million
U.S. STOCKS ON THE MOVEx-Microsoft, 3M, Twilio
U.S. STOCKS ON THE MOVEx-Microsoft, Nike, Nektar Therapeutics