Mastec To Acquire Infrastructure And Energy Alternatives, Inc. ("Iea"), A Premier Renewable Energy And Infrastructure Services Provider

MasTec (NYSE: MTZ) ("MasTec") and IEA (Nasdaq: IEA) today announced that they have entered into a definitive agreement under which MasTec will acquire all of the outstanding shares of IEA in a cash-and-stock transaction valued at $14.00 per IEA share. The transaction has been unanimously approved by the Boards of Directors of both MasTec and IEA, and is subject to customary closing conditions, including IEA stockholders and Hart-Scott-Rodino approvals, with an expected closing late fourth quarter of 2022.