09:50 AM EST - Seacliff Construction Corp. : announced that it has entered into a binding agreement to purchase the Broda Construction Group for a total of $50 million payable in cash, shares and assumed liabilities. The acquisition gives Seacliff a stronger presence in the civil construction industry and greater access to the institutional infrastructure sector, which is currently being fueled by substantial government investment and stimulus initiatives. The acquisition represents the second acquisition Seacliff has made since its IPO in April 2008. The transaction is scheduled to complete on December 1, 2009. Seacliff Construction Corp.
shares T.SDC are trading up $1.77 at $11.25.
