Meadow Valley (MM) (NASDAQ:MVCO)
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From Dec 2019 to Dec 2024
MEADOW VALLEY CORPORATION (NASDAQ: MVCO) announced that
the merger (the "Merger") contemplated by that certain Agreement and
Plan of Merger (the "Merger Agreement"), dated July 28, 2008, among
Meadow Valley Corporation ("Meadow Valley") and Phoenix Parent Corp.
(which is now known as Meadow Valley Parent Corp.) ("Parent") and
Phoenix Merger Sub, Inc., both affiliates of Insight Equity I LP, was
not consummated on or prior to January 7, 2009, the outside date for the
Merger (the "Outside Date"). Pursuant to the Merger Agreement, the
failure of the closing to occur by the Outside Date gives either Meadow
Valley or Parent the right to terminate the Merger Agreement and abandon
the Merger so long as the terminating party has satisfied all of its
conditions to closing. As of today, Meadow Valley has not satisfied all
of its conditions to closing necessary to consummate the Merger and
Parent has not provided Meadow Valley with any notice of termination.
Unless and until terminated in accordance with its terms, the Merger
Agreement remains in full force and effect and each party thereto
remains obligated to use its reasonable best efforts to take all
appropriate action to consummate expeditiously the Merger and each of
the parties thereto is proceeding towards closing on such basis.
About Meadow Valley
Meadow Valley Corporation, based in Phoenix, Arizona, is engaged in the
construction industry as both a contractor and a supplier of
construction materials. Meadow Valley's construction services segment
specializes in structural concrete construction of highway bridges and
overpasses, and the paving of highways and airport runways, primarily in
Nevada and Arizona. Meadow Valley's construction materials operations
provide concrete and gravel products primarily to other contractors.
Meadow Valley's materials operations are concentrated in Southern Nevada
and Arizona.
Forward-Looking Statements
Certain statements in this release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. Such statements are based on current expectations, estimates and
projections about the Company's business and its proposed acquisition by
Investor based, in part, on assumptions made by management. These
statements, including statements regarding the possible termination of
the merger agreement, are not guarantees of future performance and
involve risks and uncertainties that are difficult to predict.
Therefore, actual outcomes and results may differ materially from what
is expressed or forecasted in such forward-looking statements due to
numerous factors. Such forward-looking statements speak only as of the
date on which they are made and Meadow Valley does not undertake any
obligation to update any forward-looking statement to reflect events or
circumstances after the date of this release, except as may be required
by law.