CORAL
GABLES, Fla. and INDIANAPOLIS, Sept. 6,
2022 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ)
("MasTec") and Infrastructure and Energy Alternatives, Inc. ("IEA")
(NASDAQ: IEA) today announced that the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended,
for the previously announced acquisition of IEA by MasTec has
expired.
The expiration of the HSR waiting period was a condition to the
closing of the pending transaction. Completion of the transaction
is expected in October 2022, subject
to the satisfaction of the remaining customary closing conditions,
including approval of the transaction by IEA stockholders.
About MasTec, Inc.
MasTec is a leading infrastructure construction company
operating mainly throughout North
America across a range of industries. MasTec's primary
activities include the engineering, building, installation,
maintenance and upgrade of communications, energy, utility and
other infrastructure, such as: power delivery services, including
transmission and distribution, wireless, wireline/fiber and
customer fulfillment activities; power generation, primarily from
clean energy and renewable sources; pipeline infrastructure,
including natural gas pipeline and distribution infrastructure;
heavy civil; and industrial infrastructure. MasTec's customers are
primarily in these industries. The information contained on the
Company's website is not incorporated into this press release.
Forward Looking Statements
This press release contains a forward-looking statement
regarding the expected timing of completion of MasTec's acquisition
of IEA. This statement is based on currently available
information, but is subject to a number of uncertainties, including
potential delays to the special meeting of the IEA stockholders to
be called vote on the transaction and potential delays in, or
failure to, satisfy the remaining conditions to closing of the
transaction. We do not undertake any obligation to publicly update
or revise this forward-looking statement after the date of this
press release, except as required by applicable law.
Additional Information and Where to Find It:
This communication relates to a proposed acquisition of
Infrastructure and Energy Alternatives, Inc. (IEA) by MasTec, Inc.
(MasTec). In connection with the proposed acquisition, MasTec and
IEA have filed, and intend to continue to file, relevant materials
with the Securities and Exchange Commission (SEC). In that
connection on August 29, 2022, MasTec
filed with the SEC a Registration Statement on Form S-4, which
includes a preliminary proxy statement of IEA and which also
constitutes a preliminary prospectus with respect to the shares of
common stock of MasTec to be issued in the proposed transaction.
The information in the preliminary proxy statement/prospectus is
not complete and may be changed. IEA will deliver the definitive
proxy statement/prospectus to its stockholders as required by
applicable law. This communication is not a substitute for the
definitive proxy statement/ prospectus that will be filed with the
SEC in connection with the proposed business combination.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE
PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC
CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION.
Investors and security holders will be able to obtain these
materials (when they are available) and other documents filed with
the SEC free of charge at the SEC's website, www.sec.gov. Copies of
documents filed with the SEC by MasTec (when they become available)
may be obtained free of charge at MasTec's website at MasTec.com.
Copies of documents filed with the SEC by IEA (when they become
available) may be obtained free of charge on IEA's website at
iea.net.
Participants in the Solicitation:
IEA and its directors, executive officers and certain other
members of management and employees may be deemed to be
participants in the solicitation of proxies in respect of the
proposed transaction. Information regarding these persons who may,
under the rules of the SEC, be considered participants in the
solicitation of IEA stockholders in connection with the proposed
transaction and their interests in the transaction will be set
forth in the proxy statement/prospectus described above filed with
the SEC. Additional information regarding IEA's executive officers
and directors is included in IEA's annual report on Form 10-K for
the year ended December 31, 2021
filed with the SEC on March 7, 2022
and IEA's proxy statement for its 2022 annual meeting of
stockholders filed with the SEC on March 23,
2022. These documents may be obtained free of charge at the
SEC's website, www.sec.gov, or IEA's website, iea.net.
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SOURCE MasTec, Inc.
