Salini Values Rival At €1.6B, Nears Major Stake Purchase

Law360, New York (April 12, 2013, 4:58 PM EDT) -- Italian construction firm Salini SpA lifted Impregilo SpA stake past 86 percent in a deal that valued its rival at €1.6 billion ($2 billion), according to a Friday filing, stepping toward a merger that would give Salini a bigger hand in infrastructure projects worldwide.

About 80 percent of Impregilo's shareholders approved the partial takeover to make Salini, which previously had held just less than a 30 percent interest in the company, its dominant voice. The Milan-based suitor had offered €4 per share, a modest premium over...
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