secwatch.observer — SEC 8-K summary
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Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K
Filed at:   2022-03-16T23:59:59+00:00
Accession:  0001437749-22-006437
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite completes sale of Inliner business for $159.7M; repurchases $18.5M in stock
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- Closed sale of trenchless and pipe rehabilitation business (Inliner) to Inland Pipe Rehabilitation for $159.7 million.
- Proceeds to be used for core civil construction/materials growth, debt reduction, and share repurchases.
- Spent $18.5 million to repurchase 611,000 shares in March 2022; plans further opportunistic repurchases.
- Sale is part of strategic plan focusing on core competencies; also expects to sell Water Resources and Mineral Services businesses.
- Advisors: Perella Weinberg and Shearman & Sterling for Granite; Houlihan Lokey and Jones Day for buyer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000143774922006437/0001437749-22-006437-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000143774922006437/gva20220314_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-006437

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