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Granite Construction Snaps Up Layne In $565M Deal

Law360 (February 14, 2018, 3:50 PM EST) -- Granite Construction Inc. said Wednesday it will take over water management, construction and drilling firm Layne Christensen Co. in a deal worth $565 million that will see California-headquartered Granite take a major leap in its water infrastructure capabilities.

Under the terms of the deal, Layne investors will trade each of their shares for a 0.270 Granite share. This represents a value of $17 per Layne share, a premium of 33 percent on the volume-weighted average prices of both companies' shares over the past 90 trading days,...
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