October 26, 2017 / 10:23 AM / a year ago

BRIEF-Aecon Group Inc to be acquired by CCCI for ‍$1.51 billion​

Oct 26 (Reuters) - Aecon Group Inc

* Aecon Group agrees to be acquired by CCCI for $20.37 per share

* Aecon Group Inc - deal for ‍$1.51 billion​

* Aecon Group Inc - ‍board of directors of aecon has unanimously recommended this transaction.​

* Aecon Group Inc - ‍termination payment of $75 million will be payable by CCCI to Aecon should transaction not close in certain circumstances​

* Aecon Group Inc - ‍transaction is culmination of sale process conducted by aecon and disclosed on August 25, 2017​

* Aecon Group Inc - each director and senior officer of Aecon has agreed to support and vote their shares in favour of arrangement resolution​

* Aecon Group Inc - ‍transaction is not subject to any financing condition.​

* Aecon Group Inc - ‍transaction will be implemented by way of a statutory plan of arrangement under canada business corporations act​

* Aecon-‍if merger is terminated in certain circumstances, including if co enters into another agreement , ccci is entitled to termination fee of $50 million​

* Aecon Group Inc - ‍agreement between CCCI and Aecon provides for, among other things, a non-solicitation covenant on part of aecon​

* Aecon Group Inc - ‍Aecon will retain its name, continue to be Canada-headquartered and led by its Canadian management team​ Source text for Eikon: Further company coverage: ( Bangalore.newsroom@thomsonreuters.com )

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