Watsonville, Calif.-based Granite Construction Inc. and The Woodlands, Texas-based Layne Christensen Co. announced Feb. 14 that they have entered into a definitive agreement whereby Granite will acquire all of the outstanding shares of Layne in a stock-for-stock transaction valued at $565 million, including the assumption of net debt. The transaction, which was unanimously approved by the boards of directors of both companies, is expected to close in second-quarter 2018.
Source: Daily Dose of ShaleDirectories.com News
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