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Aecon Group Inc (ARE.TO)

ARE.TO on Toronto Stock Exchange

19.84CAD
11 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Aecon Announced Receipt Of Two Regulatory Approvals In Respect Of Deal With CCCI
Friday, 8 Dec 2017 

Dec 8 (Reuters) - Aecon Group Inc ::AECON PROVIDES UPDATE ON PROPOSED TRANSACTION WITH CCCI.AECON GROUP INC - ‍ ANNOUNCED RECEIPT OF TWO REGULATORY APPROVALS IN RESPECT OF ACQUISITION BY CCCC INTERNATIONAL HOLDING LIMITED​.AECON GROUP INC SAYS‍ ISS AND GLASS LEWIS, HAVE BOTH RECOMMENDED THAT CO'S SHAREHOLDERS VOTE FOR SPECIAL RESOLUTION APPROVING CCCI'S ACQUISITION OF CO​.  Full Article

China Communications Construction's units to buy Canada's Aecon
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - China Communications Construction Co Ltd <601800.SS>1800.HK:Says units plan to buy Canada's Aecon Group Inc <<>> for C$1.45 billion ($1.13 billion).  Full Article

Aecon group Q3 operating earnings per share C$0.37
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Aecon Group Inc :Aecon reports third quarter 2017 results.Q3 operating earnings per share c$0.37.Q3 earnings per share view c$0.41 -- Thomson Reuters I/B/E/S.Aecon group inc - ‍revenue for three months ended september 30, 2017 was $760 million compared to $838 million in q3 of 2016​.Aecon group inc - ‍backlog as at september 30, 2017 of $4.32 billion compares to backlog of $4.37 billion as at end of q2 of 2017​.Aecon group inc - ‍new contract awards of $714 million were booked in q3 of 2017​.Aecon group - ‍expect lower overall revenue in 2017, driven by lower activity in mining segment, expectation for mining revenue to be lower in q4.  Full Article

Aecon Group Inc to be acquired by CCCI for ‍$1.51 billion​
Thursday, 26 Oct 2017 

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​.  Full Article

Aecon confirms it has engaged financial advisors to explore potential sale of CO
Friday, 25 Aug 2017 

Aug 25 (Reuters) - Aecon Group Inc ::Aecon confirms it has engaged financial advisors to explore a potential sale of the company.Confirms that it has engaged BMO capital markets and TD Securities to explore a potential sale of company​.  Full Article

Aecon reports Q2 results including record backlog of $4.9 billion
Thursday, 4 Aug 2016 

Aecon Group Inc : Aecon reports second quarter 2016 results including record backlog of $4.9 billion . Qtrly adjusted earnings per share $0.12 . Qtrly revenue $839.3 million versus $667.3 million . Backlog as at June 30, 2016 of $4.9 billion, 89 per cent higher than backlog of $2.6 billion as at June 30, 2015 . New contract awards of $1.1 billion were booked in q2 of 2016, compared to $469 million in Q2 of 2015 .Says new contract awards of $1.1 billion were booked in Q2 of 2016, compared to $469 million in Q2 of 2015.  Full Article

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Canada province pushes on with mega dam project despite opposition

British Columbia said on Monday it would push ahead with a C$10.7 billion ($8.32 billion) hydroelectric dam project approved by the western Canadian province's previous government, provoking an angry response from a political partner and threats of court cases from indigenous groups.