12:06 PM EST - Churchill Corp. : entered into an arrangement agreement to acquire all of the issued and outstanding common shares of Seacliff Construction Corp. for total cash consideration, on a fully diluted basis, of approximately $390 million, including approximately $10 million of debt. Under the terms of the agreement, Seacliff shareholders will receive $17.14 in cash for each Seacliff common share. This represents a 23% premium to the volume-weighted average trading price of Seacliff's common shares over the last 20 trading days ending on May 14, 2010. Churchill Corp.
shares T.CUQ are trading down $0.76 at $18.18.
