Cardinal Infrastructure Group is trading 6.4% higher at $15.56; available information does not establish a specific reason for the rebound.
- On October 19, the company amended its Hughes Brothers acquisition agreement, keeping the $357.5 million purchase price but changing consideration from an even cash-and-stock split to 60% cash and 40% stock.
- The cash portion will be funded with cash on hand and borrowings under its existing credit facility. Shares had declined steeply in recent sessions; broader indexes were higher, but no direct link to the gain was established.