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Legato Merger Corp. II (Nasdaq: LGTOU, LGTO, LGTOW) has announced its Annual Meeting of Stockholders set for February 14, 2023, at 10:00 a.m. EST. Stockholders on record as of January 24, 2023, can vote on the proposed business combination with Southland Holdings LLC, a leading provider of specialized infrastructure construction services across North America. The merger aims to enhance Legato II's portfolio and market position. Further details will be shared through Legato’s proxy statement/prospectus, which stockholders are encouraged to read carefully for critical insights regarding the transaction.
Legato II has signed a merger agreement with Southland Holdings, a leader in specialized infrastructure construction services. This business combination will make Southland a wholly-owned subsidiary of Legato II, with the expected closing in Q4 2022. The merger, valuing the combined entity at $810 million, aims to enhance Southland's growth potential through increased resources and opportunities. Stockholders will receive up to $498 million in total, which includes $220 million in cash for Southland’s balance sheet. The deal forecasts significant operational synergies and value creation.
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