Exclusive: Apollo Global in bid for U.S. construction company Tutor Perini - sources [Reuters]
Tutor Perini Corporation (TPC)
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Source: Reuters
Exclusive: Apollo Global in bid for U.S. construction company Tutor Perini - sources (Reuters) - Private equity firm Apollo Global Management Inc ( APO.N ) has approached Tutor Perini Corp ( TPC.N ), one of the largest U.S. general contractors, with a close to $1 billion acquisition offer, people familiar with the matter said on Friday. Apollo’s bid for Tutor Perini comes as the construction company is trying to recover from what its CEO Ronald Tutor this week called “an extremely disappointing year” in 2019. It has struggled with the delivery of some electrical and mechanical projects, though analysts have pointed to the company’s strong project backlog as grounds for optimism. Apollo has made an offer of around $17 per share in cash for Tutor Perini, one of the sources said. There is no certainty that Tutor Perini will accept Apollo’s bid or that it will successfully negotiate a deal, the sources added. The sources asked not to be identified because the matter is confidential. A
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News
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- Wall Street Bulls Look Optimistic About Tutor Perini (TPC): Should You Buy? [Yahoo! Finance]Yahoo! Finance
- Tutor Perini Co. (NYSE: TPC) is now covered by analysts at Vertical Research. They set a "buy" rating and a $38.00 price target on the stock.MarketBeat
TPC
Earnings
- 11/6/24 - Miss
TPC
Sec Filings
- 12/20/24 - Form 4
- 12/9/24 - Form 4
- 11/22/24 - Form 4
- TPC's page on the SEC website