Meadow Valley to be acquired for $61.3M; shares up 19%
Construction services and material supplier Meadow Valley Corporation (Nasdaq:MVCO) said ahead of the opening it had agreed to be acquired by an affiliate of Insight Equity I LP for $61.3 million. The news has sent shares up more than 19%. Phoenix-based Meadow Valley will be acquired for $11.25 per share in cash. The transaction is expected to close before Dec. 31 this year.
In today’s trading, shares of Meadow Valley are at $10.97 at 10:14 a.m. ET, up $1.76 from Friday’s close. Shares have ranged from $8 to $14.58 during the past year.
For detailed price information and recent news stories about Meadow Valley Corporation, click MVCO.
