Atkins confirms takeover offer from Canadian group

Shares in UK engineering and consultancy firm W S Atkins jumped to a high of 2,004 pence following the news that Canadian engineering and construction company SNC-Lavalin Group has offered to buy the company for about US$1.9 billion (£2.1 billion0, according to Reuters. Atkins said SNC planned to offer 2,080 pence per share in cash, 35 per cent above Atkins' closing share price on Friday. In a statement, Atkins said that the board of Atkins had indicated to SNC-Lavalin that the possible offer would d
April 4, 2017 Read time: 1 min
Shares in UK engineering and consultancy firm W S 1677 Atkins jumped to a high of 2,004 pence following the news that Canadian engineering and construction company SNC-Lavalin Group has offered to buy the company for about US$1.9 billion (£2.1 billion0, according to Reuters.

Atkins said SNC planned to offer 2,080 pence per share in cash, 35 per cent above Atkins' closing share price on Friday.

In a statement, Atkins said that the board of Atkins had indicated to SNC-Lavalin that the possible offer would deliver value to Atkins shareholders at a level that the Board would be prepared to recommend, subject to reaching agreement on the other terms and conditions of the offer.

The boards are discussing other terms and conditions of the possible offer which is conditional upon diligence and financing, Atkins added.

Related Content

  • February 1, 2012
    Sirit to be acquired by Federal Signal
    Leading provider of radio frequency identification (RFID) technology, Sirit, and Federal Signal Corporation have signed a definitive agreement whereby Federal Signal will acquire all of the issued and outstanding common shares of Sirit for cash consideration of CDN$0.30 per share (US$0.29) by way of a court approved plan of arrangement under the Business Corporations Act (Ontario).
    Read More
  • June 27, 2016
    Atkins to aid transformation of Colorado’s transportation system
    UK-based design, engineering and project management consultancy Atkins is to assist the Colorado Department of Transportation (CDOT) in transforming the state’s aging transportation system into one of the safest and most reliable in the US. CDOT has selected the company to provide program support for the RoadX Program, its commitment to rapid and aggressive implementation of innovative technology to revolutionise the state’s transportation system within the next ten years. CDOT is investing US$20 m
    Read More
  • January 9, 2015
    Chinese company confirms Mexico train tender plans
    China Railway Construction Corp (CRCC) has confirmed its intention to participate in the new tender for the US$3.4 billion Mexico City-Querétaro high-speed rail project. Mexico's transport and communications ministry (SCT) said draft bidding rules for the new tender would be published on 14 January. The project calls for the construction of a 210km high-speed rail link connecting Mexico and Querétaro, via the cities of Cuatitlán and Tula. The high speed train will run for 210 kilometres between Buenav
    Read More
  • June 11, 2015
    Aecon consortium selected for Eglinton Crosstown light rail transit project
    Crosslinx Transit Solutions, consisting of Aecon, ACS Infrastructure Canada, EllisDon, and SNC-Lavalin, has been selected by Metrolinx and Infrastructure Ontario as the preferred supplier for the development of the Eglinton Crosstown light rail transit project in Toronto.
    Read More

Highlighted Content