MasTec Suspends Late Stage Negotiations of an Acquisition to Prioritize Share Repurchases
MasTec, Inc. ("MasTec" or the "Company") (NYSE:MTZ) today announced that it is suspending late stage negotiations of a large potentially accretive acquisition opportunity in order to prioritize the repurchase of shares. The Company has an existing $250 million board authorization for share repurchases, the full amount of which is available. This announcement does not obligate MasTec to repurchase any particular amount of common stock during any period and the program may be modified or suspended at any time at the Company's discretion. Stock repurchases may be made from time to time and the actual amount repurchased will depend on a variety of factors including market conditions, regulato