This is a profile preview from the PitchBook Platform. Delayed quotes by FIS. The Commission vote to accept the proposed consent order for public comment was 5-0. WebJul 2021 - Aug 2022 1 year 2 months. Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. In addition, we believe that MasTec provides significant strategic growth opportunities and, as evidence of our strong belief in the merits of this combination, my brother Paul and I have requested, and will receive, a significant portion of the proceeds of the transaction in MasTec common stock.". September 02, 2021, STRL Quick QuoteSTRL TPC Quick QuoteTPC MTZ Quick QuoteMTZ GVA Quick QuoteGVA. Franchisee Conversations with Chair Khan, DaVita Inc. and Total Renal Care, Inc., In the Matter of. Jose Mas, MasTec's Chief Executive Officer, commented, "As we end 2022, it is important to note the significant end market transformation we have undertaken over the past two years to support the nation's energy transition to sustainable renewable energy sources. 'Bloomberg Technology' Full Show (05/01/2023) Post-acquisition, MasTec reduced net debt by approximately $350 million during the fourth quarter. Cash will be provided by MasTec's cash on hand as well as borrowing under its existing unsecured credit facility. Our methodology for determining backlog may not, however, be comparable to the methodologies used by others. The company serves renewable energy, electric power, oil and gas, water and sewer, civil and industrial, technology, communications and government sectors. Unlock MasTec Inc profile and new opportunities for your business. In October, the company completed the acquisition of Infrastructure and Energy Alternatives, Inc. Lets delve deeper into major growth drivers of this Zacks Rank #3 (Hold) company. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. Holland & Knight Advises MasTec on $420 Million The Federal Trade Commission issued a proposed order imposing strict limits on future mergers by DaVita, Inc., a dialysis service provider with a history of fueling consolidation in life-saving health industries. JPMorgan CEO Jamie Dimon warned about the threat from fintechs 2 years ago. We work to advance government policies that protect consumers and promote competition. Net Profit Margin History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events. The FTC will publish the consent agreement package in the, An Inquiry into Cloud Computing Business Practices: The Federal Trade Commission is seeking public comments, FTC Lawsuit Leads to Permanent Ban from Debt Relief, Telemarketing for Operators of Debt Relief Scam, Is Franchising Fair? (SPACs), Transportation, Infrastructure & Logistics. One Tech Engineering The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. Bothactual fiscal 2021and expected post-acquisition 2022 results reflect impacts of underperforming communications and pipeline services operations, which are anticipated to improve over time. Fourth Quarter 2022 Results Include GAAP Net Income of $3.4 Million, Adjusted EBITDA of $258 Million, Diluted Earnings Per Share of $0.04 and Adjusted Diluted Earnings Per Share of $1.03, Successfully Completed IEA Acquisition, with Significant Post-Acquisition Net Debt Reduction During the Quarter, Record 18-Month Backlog as of December 31, 2022 of $13.0 Billion, a 31% Increase Over 2021. Public Utility Commission of Texas MasTec We qualify any and all of our forward-looking statements by these cautionary factors. This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. We believe that this opportunity, coupled with continued expected growth in telecommunications infrastructure and expanding demand for traditional and new green pipeline services, positions us with multiple strong long term growth opportunities. This is MasTecs 21st transaction in the United States. This is MasTecs 21st transaction in the Construction sector. 03925319, Artificial Intelligence: Leading Technology Companies, Cybersecurity: Leading Technology Companies, Electric Vehicles: Leading Technology Companies, Strategic Alliances Announced in Last 12 Months, Special Purpose Acquisition Corps. We use cookies to understand how you use our site and to improve your experience. In conjunction with this announcement, MasTec has scheduled a conference call for this morning, December 20, 2021, at 9:00 a.m. Eastern Time, which will also be broadcast live over the Internet. The proposed order limiting future transactions marks the FTCs return to the standard use of prior approval. For the three months ended December 31, 2022, Communications, Clean Energy and Infrastructure, Oil and Gas and Power Delivery EBITDA included $2.3 million, $6.4 million, $3.6 million and $4.5 million respectively, of acquisition and integration costs related to our recent acquisitions, and Corporate EBITDA included $9.8 million of such costs.