Cardinal Infrastructure Group amends Hughes Brothers Construction acquisition agreement
Cardinal Infrastructure Group, Inc. (NASDAQ: CDNL) announced Tuesday it has entered into an amendment to its previously announced agreement to acquire Hughes Brothers Construction Inc.
RALEIGH, N.C. – Cardinal Infrastructure Group, Inc. (NASDAQ: CDNL) announced Tuesday that it has entered into an amendment to its previously announced agreement to acquire Hughes Brothers Construction Inc. (Hughes Brothers).
Specific details regarding the changes to the agreement and the reasons for the amendment were not immediately disclosed. Both companies operate within the construction industry.
Hughes Brothers Construction Inc. has a significant presence in the construction sector. The acquisition is intended to bolster Cardinal Infrastructure's market position.
The transaction is expected to close by the end of the year, pending regulatory approvals and satisfaction of customary closing conditions. The broader implications for the industry remain to be seen.