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Spain’s ACS Bids for German Builder Hochtief, Owner of Turner Construction, Flatiron

Publication Date: 9/16/2010
Author: Peter Reina
Format: HTML

German contractor Hochtief A.G., the Essen-based firm now ranked as the world’s largest in revenue outside its home country, is considering a Sept. 16 buyout offer by Madrid-based construction giant Grupo ACS. The Spanish contractor, which is Hochtief’s largest shareholder with a nearly a 30% stake, has offered $72.70 per share for the rest, valued at about $3.5 billion (€2.7b).

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