CEDAR CREST, N.M.-Specialty Teleconstructors Inc. signed a letter of intent to acquire all outstanding shares of capital stock of Novak & Lackey Construction Co. Inc., an Oklahoma City-based manufacturer of wireless transmitting, receiving and switching facilities.
Specialty Teleconstructors will exchange 400,000 shares of common stock, which it values at about $3.85 million. The agreement is expected to be completed before May 31, the company said.
