MTZ is trading at $379.98 (+5.94%) after hours following the announcement that MasTec will acquire The Superior Group, a strategic move to expand its footprint in data-center and critical infrastructure electrical work.
- The company secured a $700 million term loan to help finance the acquisition, providing the necessary capital to close the transaction.
- The price action is viewed as company-specific, as the stock climbed significantly despite broader market weakness.