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

  • March 15, 2016
    Creative finance enables parking progress in LA
    David Crawford investigates an innovative public/private partnership. Los Angeles entered the second decade of the 21st century facing major challenges to its parking operations. With a population of 3.8 million, and its car-oriented culture still predominant, the city's parking meters were technically outdated - with most only accepting coins and many regularly out of service - resulting in a substantial loss of revenue. This coincided with a number of Californian cities looking to parking income to boost
    Read More
  • September 12, 2012
    Reauthorization 2012: the facts laid bare
    A reauthorization bill for transportation came into law in July 2012, rubber stamping federal funding increases through the 2014 financial year, among other things. The new bill presents the good, the bad and the ugly of transportation infrastructure in the US, writes Pat Jones On June 29 this year, the US House of Representatives and Senate both approved the conference report on the ‘Moving Ahead for Progress in the 21st Century Act’ or MAP-21. President Obama signed this legislation into law on July 6.
    Read More
  • July 17, 2014
    Q-Free acquires Open Roads Consulting
    Q-Free has signed a Share Purchase Agreement (SPA) for the acquisition of Open Roads Consulting for a cash consideration of approximately US$6.2 million. Further consideration is dependent on future financial performance. The transaction is expected to be closed within the end of the third quarter 2014. The acquisition represents a milestone for Q-Free and is a strategically good match with other advanced traffic management systems (ATMS) and road user charging (RUC) activities within the group. It will
    Read More
  • April 30, 2015
    Cable cars come of age in trans-continental expansion
    David Crawford explores a high-level option of public transport. Sharing its origin with that of ski lifts at winter sports resorts in the European Alps, urban aerial cable transport is attracting growing interest as a low-footprint, low-energy alternative to conventional public transport that can swoop over ground-level traffic congestion.
    Read More

Highlighted Content