On August 7, 2026, IES Holdings entered into a transaction agreement to buy about 92% of DBM Global from Innovate Corp's subsidiary. The base purchase price is $650 million, paid with roughly 215,487 shares of IES common stock (about $140 million based on a $649.69 per-share price) plus cash. After the purchase, a merger subsidiary will merge into DBM Global, leaving it as a wholly owned IES subsidiary. The deal is still subject to conditions including an antitrust waiting period and other regulatory approvals.
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