09:38 AM EST - Aecon Group Inc. : has reached an agreement with Lockerbie & Hole Inc., whereby Aecon would buy all of the issued and outstanding common shares of Lockerbie for total consideration, on a fully diluted basis, of approximately $220 million. As per the proposed transaction, Lockerbie shareholders would get $8.00 in value for each Lockerbie common share, comprised of, at the election of each shareholder, cash or common shares of Aecon or a combination thereof, subject to proration such that 75% of the total consideration would be paid in cash and 25% of the total consideration would be paid in Aecon common shares. The deal is expected to close early April 2009. Aecon Group Inc.
shares T.ARE are trading down $0.66 at $9.59.
