Evercel (EVRC) has made an offer to acquire NewLink Genetics (NLNK). Daniel Allen, Chief Executive Officer of Evercel, announced on November 25 Evercel has made alternative offers to acquire NewLink, including one for $1.75 in cash per share. "We tried to engage in a good faith discussion with NewLink's Board of Directors in order to deliver a superior offer to shareholders. However, NewLink's Board turned down our offer without even engaging in any discussion with us. "NewLink shareholders are being asked to approve a merger with privately held Lumos Pharma that we believe is not in their best interests and will likely destroy shareholder value at NewLink. Lumos is a money losing clinical stage biotech company with a single early stage pipeline asset that it acquired in July 2018 for $3.5 million upfront. The clinical path of Lumos' previous drug candidate was deemed not viable due to safety concerns. We believe our cash offer is superior to the current all stock Lumos deal as it offers NLNK shareholders a strong premium to the $1.45 volume weighted average share price since the Lumos deal was announced, certainty of value and an expedient path to closure. In contrast, we believe the Lumos deal will likely result in continued dilution to NewLink shareholders, accelerated cash burn and the pursuit of unlikely success of a previously failed drug candidate." "NewLink shareholders will have an important decision to make in the coming weeks on whether to approve the merger with Lumos, and we believe shareholders deserve the full picture of NewLink's options starting with an explanation for why the Board has refused to engage with Evercel about reaching a deal that may promise shareholders much greater value with significantly less risk than the Lumos merger."

Granite Construction announced that its wholly-owned subsidiary, Kenny Construction, has been awarded a $16M contract by the Illinois Department of Transportation to rehabilitate sections of Interstate 94 at Montrose Avenue in Cook County, Illinois. The project will replace the superstructure and rehabilitate the substructure of I-94 at Montrose Avenue including improvements to drainage and safety with new roadway and underdeck lighting. Construction is expected to begin in early 2020 and be complete in the fall of 2020.