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Bidding war escalates for Aegion Corp.

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The bidding war has escalated for St. Louis-based infrastructure pipeline rehabilitation company Aegion Corp. (Nasdaq: AEGN).

The company announced an unsolicited buyer – identified in media reports as Apollo Globe Management Inc. – increased its competing bid to that of New Mountain Capital.

New Mountain Capital first agreed to take Aegion private in a $963 million deal last month. Apollo then made a higher bid, leading New Mountain to up its offer. Apollo Globe Management now has struck back with another higher bid.

Read more from the St. Louis Business Journal.

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