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

  • Intertraffic Amsterdam 2024: From innovation to implementation
    March 13, 2024
    Since 1972, Intertraffic has been focused on innovation and implementation in ITS: and in this year’s packed programme the emphasis is on smart, safe and sustainable mobility for all
    Read More
  • Lithium batteries market and electric vehicles
    April 13, 2017
    According to a new report published by Allied Market Research, the global lithium-ion battery market is expected to generate revenue of US$46.21 billion by 2022, with a CAGR of 10.8 per cent during the forecast period (2016-2022). The report indicates that the market for these batteries is expected to witness notable growth because of their increasing application in the automotive sector. Additional key factors contributing to the increasing demand of lithium is the growing use of portable electronic dev
    Read More
  • Tattile has eyes on Buenos Aires
    May 9, 2024
    Tattile has provided its high-performance free-flow ANPR system consisting of Vega Smart 2HD camera and Axle Counter cameras - powered by artificial intelligence - to the capital of Argentina. David Arminas reports
    Read More
  • US Senate approves Highway Trust Fund patch
    August 1, 2014
    The US Congress gave final approval last night to a US$10.8 billion bill to replenish the federal Highway Trust Fund and through to May 2015. It now goes to President Barack Obama for his signature. The Transportation Department had set Friday as the day the Highway Trust Fund would run out of reserves and told states they could expect an average 28 percent reduction in federal aid. The fund relies primarily on gasoline and diesel fuel taxes that haven’t been increase in two decades. Commenting on the
    Read More

Highlighted Content