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.

For more information on companies in this article

Related Content

  • UK puts £3bn into new bus strategy
    March 16, 2021
    Daily fare caps, plus better coordination of multimodal services, are promised
    Read More
  • Tactile Mobility's virtual virtuous circle
    January 25, 2021
    Virtual sensors will allow a safer driving experience and reduce road maintenance costs. Tactile Mobility’s Eitan Grosbard talks to David Arminas about what once seemed 'pure sci-fi'...
    Read More
  • IBTTA’s Jones sees turbulent times and a bright future for tolling
    November 10, 2017
    Colin Sowman talks to IBTTA’s Pat Jones about the future of tolling in a fast-changing world. Pat Jones may have been executive director and CEO of the International Bridge, Tunnel and Turnpike Association (IBTTA) for 15 years but in his words: “Never before have I seen so much change coming so fast in the transportation and tolling industry.” Amidst all this change, tolling companies are asked to provide funding for roadway building or improvements which will be repaid for over, say, a 30-year concess
    Read More
  • Developing Mexico's ITS standards and infrastructure
    February 28, 2013
    Promoting open market conditions for ITS deployment remains a major part of Mexico’s recent infrastructure modernization program. Travis P Dunn, partner at D’Artagnan Consulting, looks at the progress so far. In the past six years, Mexico has embarked on an ambitious infrastructure modernization program, calling for the construction and improvement of more than 19,000km of road infrastructure and the deployment of advanced technologies that improve safety, efficiency, and convenience for road users. One of
    Read More

Highlighted Content