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Integrated Electrical Services Inc Completes Acquisition Of MISCOR Group, Ltd.


Friday, 13 Sep 2013 12:00pm EDT 

Integrated Electrical Services Inc announced that it has completed its acquisition of MISCOR Group, Ltd. (MISCOR), a provider of electrical and mechanical solutions to customers both in the United States and abroad. Pursuant to the merger agreement, at the effective time of the merger, each issued and outstanding share of MISCOR common stock was converted into the right to receive, at the election of the holder, either stock consideration of 0.3118 shares of IES common stock or cash consideration of $1.48. IES issued approximately 2.8 million shares of common stock and paid approximately $4.1 million in cash to MISCOR shareholders in connection with the merger. The shares of IES common stock issued to MISCOR shareholders in connection with the merger represent approximately 15.6% of the shares of IES common stock issued and outstanding immediately after effectiveness of the merger. 

Company Quote

6.32
-0.05 -0.78%
11 Jul 2014