Real Assets
Quanta Services Inc. said Thursday it has entered an agreement to acquire Blattner Holding Co. for $2.7 billion in stock and cash. Under the terms of the deal, Quanta will pay about $2.36 billion in cash and $340 million in its common shares with Blattner owners eligible for up to $300 million more in earnout payments on achieving certain financial targets. Blattner is a utility-scale renewable energy infrastructure provider, founded in 1907 and based in Avon, Minnesota. The company offers front-end engineering, procurement, project management and construction services to renewable energy developers for wind, solar and energy storage projects.