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Hochtief agrees to buy Turner for 350.1 million euros

Article Abstract:

Hochtief AG has reached an agreement to acquire Turner Corp. for approximately $370 million (350.1 million euros). This comes out to $28.625 per share. Turner is a general builder based in the US. The acquisition will mean a major expansion globally for Hochtief. Turner shareholders have given their approval to the transaction. Hochtief is one of the largest construction firms in Germany.

United States, Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Germany, Construction, Mergers, acquisitions and divestments, Hochtief AG, Turner Corp.

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Eurotunnel asks for protection from creditors

Article Abstract:

Eurotunnel S.A. has asked for bankruptcy protection in a French court. The Channel Tunnel rail operator says that service will not be disrupted despite the company's financial problems.

France, Financial management, Engineering Services, Engineering & Architectural Svcs, HEAVY CONSTRUCTION, EX. BUILDING, GENERAL BUILDING CONTRACTORS, Eurotunnel S.A., Finance, Company financing

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