Filing Flows › MYR Group (MYRG) › Takeover & LBO
Is MYR Group (MYRG) a takeover target?
A leveraged buyout at today's price plus 30% ($367.41 a share) would return about 1% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $218.13 a share (−23% against today's $282.62). Historically 3.7% of companies with its figures were bought within a year (0.74× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $367.41 | today's $282.62 plus 30% |
| × shares | 15.7 million | |
| = Equity value | $5.8B | |
| + Debt refinanced | $216M | |
| − Cash | $26.0M | |
| = Enterprise value | $6.0B | 17.5× EBITDA of $342M |
| Fees | $119M | 2% of the price |
| New debt | $1.9B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $4.2B | 69% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $4.7B | $369M | $144M | $33.5M | $1.8B |
| Year 2 | $5.0B | $394M | $141M | $50.3M | $1.8B |
| Year 3 | $5.2B | $416M | $137M | $67.6M | $1.7B |
| Year 4 | $5.5B | $433M | $132M | $84.8M | $1.6B |
| Year 5 | $5.6B | $446M | $126M | $102M | $1.5B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 13.6× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $6.1B | |
| − Debt left | $1.5B | |
| = Buyer's equity | $4.5B | |
| Money multiple | 1.07× | on $4.2B put in |
| Buyer's yearly return (IRR) | 1.4% |
Price against return
What the buyer makes at other premiums over today's $282.62; the IRR reaches 20% at $218.13 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $310.88 | 6.4% |
| 20% | $339.14 | 3.7% |
| 30% | $367.41 | 1.4% |
| 40% | $395.67 | −0.7% |
| 50% | $423.93 | −2.5% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $4.3B | |
| EBITDA, last 12 months | $342M | 7.9% of revenue |
| Depreciation and amortization | $77.4M | |
| Capital spending | $112M | |
| Debt | $216M | |
| Cash | $26.0M | |
| Share price | $282.62 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 26% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, MYR Group would cost about $395.67 a share, $6.2B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 14.7% | $324.17 | $5.1B |
| Median | 40% | $395.67 | $6.2B |
| High end (a quarter paid more) | 60.2% | $452.76 | $7.1B |
The odds, from history
Historically 3.7% of companies with its figures were bought within a year (0.74× the average). Its figures put it in decile 3 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
MYR Group's latest quarter
MYR Group, Q3 2026: revenue $1.3B (+32% year over year), operating margin 6.8%, net earnings $60.0M, operating cash flow $46.1M. The chart follows the revenue to costs, profit and cash.
Questions
Is MYR Group being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy MYR Group?
A leveraged buyout at today's price plus 30% ($367.41 a share) would return about 1% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $218.13 a share (−23% against today's $282.62).
What would a takeover of MYR Group cost?
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, MYR Group would cost about $395.67 a share, $6.2B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.