Hill International has announced it has entered into a definitive merger agreement with Global Infrastructure Solutions (GISI), the largest privately owned construction manager in the commercial building, industrial and healthcare markets, and a leading project/construction manager in the environmental and public infrastructure sectors.
Under the terms of the merger agreement, GISI will commence an all-cash tender offer to acquire 100 percent of the issued and outstanding shares of Hill for $2.85 in cash per share, representing a premium of 62.8 percent to Hill’s closing share price on Aug. 16, 2022. Following the successful completion of the tender offer, GISI will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price, making Hill a privately held company under the GISI banner. The transaction values Hill International share capital at $173 million.
“Since our founding in 1976, Hill has grown into an industry-