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Granite Drops on Rumor Rebuttal

The company says it isn't aware of takeover plans.

Civil services contractor

Granite Construction

(GVA) - Get Granite Construction Incorporated Report

said it "is not aware of any developments that would substantiate a rumor contained in a news article issued yesterday that speculates of a possible takeover of Granite Construction."

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Shares fell $2.59 to $60.70.

This story was created through a joint venture between TheStreet.com and IRIS.