Quanta To Bag Price Gregory For $350M

Law360, New York (September 3, 2009, 5:30 PM EDT) -- Utility infrastructure provider Quanta Services Inc. will purchase pipeline contractor Price Gregory Services Inc. for about $350 in cash and stock.

Quanta plans to issue about 11.1 million shares of its common stock, valued at $250 million, and to pay about $100 million in cash, subject to adjustment, to stockholders of the privately held Price Gregory, the company said Thursday.

The acquisition will help Quanta expand its power in the natural gas sector, which, executives stressed, is projected to grow thanks to recent domestic supply discoveries...
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