Dycom Industries to Acquire Arguss Communications

PALM BEACH GARDENS, Fla., and ROCKVILLE, Md., Jan. 8 -- Dycom Industries Inc. and Arguss Communications Inc. announced they have signed a definitive merger agreement.

Dycom is a provider of engineering, construction and maintenance services to telecommunication providers throughout the US. Arguss conducts its operations through its wholly owned subsidiaries, Arguss Communications Group Inc. and Conceptronic Inc., to design and construct telecommunication systems.

Under the merger agreement, a newly formed, wholly owned subsidiary of Dycom will commence an exchange offer in which it will offer 0.3333 of a share of Dycom common stock for each outstanding share of Arguss common stock. The exchange offer will be followed by a merger in which Dycom would acquire, at the same exchange ratio, the remaining shares of Arguss common stock not previously acquired in the exchange offer. The exchange offer is expected to take place after required documents are filed with the US Securities and Exchange Commission.