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News 2026-10-13 15:33 UTC

BUZZ — Cardinal Infrastructure falls after deal to buy Hughes Brothers

* Shares of construction services firm Cardinal Infrastructure fall more than 7% to $19.38 * Co agrees to buy heavy civil and site development contractor Hughes Brothers Construction * Cardinal to pay $357.5 mln in cash and stock, plus up to $97.5 mln tied to Hughes Brothers' 2026 adjusted EBITDA, for a potential total