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Hill International Inc (NYSE:HIL) shares are trading higher Monday following an updated merger agreement with Global Infrastructure Solutions.
Hill and Global Infrastructure Solutions entered into a definitive merger agreement on Aug. 16. Following the receipt of an unsolicited proposal from a third party, Hill and Global Infrastructure Solutions negotiated an amended merger agreement.
The new agreement sets the all-cash transaction price at $3.40 per share versus the $2.85 per share that was offered previously. Furthermore, the transaction structure has been changed to a merger requiring the approval of Hill's stockholders.
The transaction is expected to close in the fourth quarter of 2022.
Hill provides program management, project management, construction management and other services to clients in a variety of market sectors.
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HIL Price Action: Hill is making new 52-week highs on Monday.
The stock was up 20.2% at $3.37 at press time, according to Benzinga Pro.
Photo: Lorenzo Cafaro from Pixabay.
Posted In: HIL
