The two companies announced plans to merge back in August 2022.
鈥淭he completion of our merger with Hill International is GISI鈥檚 fifth strategic merger or acquisition during 2022,鈥� said Rick Newman, GISI president and CEO. 鈥淥ur employee-ownership model differentiates us and is an important feature of our growth, recruitment, and professional development initiatives.鈥�
Hill International CEO Raouf Ghali said: 鈥淪ince our founding in 1976, Hill has grown into an industry-leading program, project, and construction management company. By joining the GISI family of companies, Hill is ready to continue to grow while enhancing the quality of our client services, thanks to GISI鈥檚 focus on long-term success.鈥�
Initially approved by GISI and Hill boards of directors on 16th August, 2022, merger terms were later amended to US$3.40 per share from US$2.85 after receipt of an unsolicited third-party proposal. Hill shareholders representing approximately 72.9% of outstanding common shares approved the combination on 2nd November.
Hill International will continue to serve its customers under the Hill International brand as part of GISI鈥檚 Engineering & Consulting.
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