Hill Int'l Agrees To Be Acquired By Global Infrastructure Solutions In $173 Mln Deal

(RTTNews) - Hill International Inc. (HIL) agreed to be acquired by Global Infrastructure Solutions Inc. for $2.85 in cash per share, valuing the company at $173 million. Upon completion of the transaction, Hill's shares will no longer trade on the New York Stock Exchange.

The deal price represented a premium of 62.8% to Hill's closing share price on August 16, 2022.

GISI will commence an all-cash tender offer to acquire 100% of the issued and outstanding shares of Hill. The transaction is expected to close in the fourth quarter of 2022.

Engine Capital, which holds about 10% of the common shares outstanding, has agreed to tender their shares in the offering.