Simpson Thacher Represents JPMorgan as Financial Advisor to MasTec in Its Acquisition of IEA
The Firm is representing J.P. Morgan Securities LLC as financial advisor to MasTec, Inc. (NYSE: MTZ) in connection with MasTec’s proposed acquisition of Infrastructure and Energy Alternatives, Inc. (Nasdaq: IEA). IEA stockholders will be entitled to receive $14 per share, comprised of $10.50 per share in cash and 0.0483 of a MasTec share, valued at $3.50 per share, based on MasTec’s closing share price on July 22, 2022. Based on estimated IEA net debt levels at closing, the total transaction consideration will be approximately $1.1 billion. The acquisition is expected to close late fourth quarter of 2022, subject to IEA stockholder approval, regulatory approvals and other customary closing conditions.
MasTec is a leading infrastructure construction company operating mainly throughout North America across a range of industries. IEA is a leading infrastructure construction company with renewable energy and specialty civil expertise.
The Simpson Thacher team includes Jakob Rendtorff and Izaak Lustgarten (M&A).