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MasTec, Inc. (MTZ)

- NYSE
  • Sep. 9, 2014, 8:11 AM
    • Investors might find power-line builder MYR Group (NASDAQ:MYRG) a way to capitalize on the $3.6T need to upgrade U.S. infrastructure as well as an intriguing takeover possibility, Bloomberg speculates.
    • MYR is on the short list of companies capable of building the largest transmission systems in the U.S., making it a prime acquisition candidate deserving of a 40% premium, according to FBR Capital.
    • A strong balance sheet and the cheapest valuation among peers make it attractive for a leveraged buyout, Avondale Partners says, citing MasTec (NYSE:MTZ), Quanta Services (NYSE:PWR) and Primoris (NASDAQ:PRIM) as firms that could be drawn to MYR for its specialized equipment and trained labor force.
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  • Jun. 30, 2014, 2:58 PM
    • MasTec (MTZ +3.6%) says it acquired Pacer Construction Holdings and its affiliated operating companies for ~$126M in cash plus a five-year contingent earn-out.
    • Pacer is a contractor in western Canada which focuses on infrastructure construction supporting the oil and gas production/processing, mining and transportation industries.
    • MTZ also says it amended its senior secured credit facility, increasing aggregate borrowing commitments to $1B from $750M.
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Company Description
MasTec Inc is an infrastructure construction company, engages in engineering, building, installing, maintaining, and upgrading energy, communication, and utility infrastructure in North America.