STUART OLSON INC. $7.65 - Toronto symbol SOX

STUART OLSON INC. $7.65 (Toronto symbol SOX; TSINetwork Rating: Speculative) (780-454-3667; www.stuartolson.com; Shares outstanding: 25.0 million; Market cap: $191.3 million; Dividend yield: 6.3%) has agreed to buy Red Deer, Alberta-based Studon Electric & Controls for $76.2 million. The price could increase by up to $25.8 million over the next three years if Studon meets certain profitability targets.

Studon, which employs 500 to 1,000 electricians and instrumentation tradespeople at any given time, offers construction and maintenance services to the Western Canadian oil and gas, pipeline and petrochemical industries.

This business’s management team will keep leading its day-to-day operations, while Studon will report its results as part of Stuart Olson’s Industrial Group.

Stuart Olson is still a hold.

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