In a competition that involved at least a dozen global contenders, Milan-based Salini Impregilo has emerged as the apparent winner in its bid to acquire Lane Industries Inc., a major U.S. transportation contractor, as the Italian firm seeks to boost its position in a U.S. market set to grow with soon-to-be-enacted highway funding legislation and more equity financing. Announced on Nov. 12 and expected to close in January, the deal for about $406 million would create a $6.4-billion megafirm, says the buyer.
Cheshire, Conn.-based Lane, which has 4,600 employees, is set to gain from Salini Impregilo’s global position in alternate project delivery and financing. The Italian firm, with about 35,000 employees, now is involved in 26 build-operate-transfer projects, valued at more than $4 billion, and also is a key player in tunneling work through its 1982 acquisition of U.S. contractor S.A. Healy.