Quanta Services, Inc. (PWR) shares are rising on Thursday morning trade after the company said it has signed an agreement to acquire Avon, Minnesota-based utility-scale renewable energy solutions provider Blattner Holding Co. for about $2.7 billion. The consideration is by way of $2.36 billion in cash, and common stock valued at approximately $340 million.

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Quanta Services, Inc. (PWR) shares are rising on Thursday morning trade after the company said it has signed an agreement to acquire Avon, Minnesota-based utility-scale renewable energy solutions provider Blattner Holding Co. for about $2.7 billion. The consideration is by way of $2.36 billion in cash, and common stock valued at approximately $340 million.

RTTNews | Sep 2, 2021 10:26AM EDT

10:25 Thursday, September 2, 2021 (RTTNews.com) - Quanta Services, Inc. (PWR) shares are rising on Thursday morning trade after the company said it has signed an agreement to acquire Avon, Minnesota-based utility-scale renewable energy solutions provider Blattner Holding Co. for about $2.7 billion. The consideration is by way of $2.36 billion in cash, and common stock valued at approximately $340 million.

Quanta said the deal is expected to be accretive to its growth, margins, cash flow conversion as well as earnings per share.

Currently, PWR shares are at $111.79, up 9.85 percent from the previous close of $101.77 on a volume of 914,337. For the 52-week period, the shares have traded in a range of $48.53-$114.73 on average volume of 969,100.

Read the original article on RTTNews ( https://www.rttnews.com/3222971/quanta-services-gains-on-plan-to-acquire-blattner.aspx)

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