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

  • Autonomous vehicles: threat or opportunity for urban mobility?
    January 17, 2017
    According to a new position paper from the International Association Of Public Transport (UITP), autonomous vehicles (AVs) will lead to a dystopian future of even more private car traffic on the road unless they are put to use in shared fleets and integrated with traditional public transport services. The paper, ‘Autonomous vehicles: a potential game changer for urban mobility,’ indicates that, despite the risk of increased congestion due to car travel becoming even more comfort
    Read More
  • e-Call emergency service doesn't go far enough
    January 30, 2012
    eCall misses the point and is only a tacit acknowledgement that the road safety issue has not yet been adequately addressed, according to FEMA's Aline Delhaye. According to the Federation of European Motorcyclists' Associations (FEMA), the European Commission's (EC's) ambitions for eCall implementation are premature and fail to take account of all road users' needs or of technological progress elsewhere.
    Read More
  • Most Americans support usage fees to pay for transportation infrastructure
    April 29, 2016
    Nearly two-thirds of Americans would support the use of road-usage fee options such as vehicle miles travelled or mileage-based user fees to help fund transportation costs, according to a new America Thinks national public opinion survey conducted by Kelton Global on behalf of infrastructure firm HNTB Corporation. The survey, Transportation Mobility 2016, also found that close to 170 million Americans (69 per cent) agree priced managed lanes should be considered when making improvements to US highways.
    Read More
  • Dubai metro - the world's longest automated rail system
    July 31, 2012
    David Crawford reviews the recent opening of Dubai's Red Line. The US$7.6bn Dubai Metro, the Phase I Red Line of which started partial operation in September 2009, will be the world's longest driverless rail system on its planned completion in 2011. With a total length of some 75km, it will then overtake the 68.7km Vancouver SkyTrain and be able to carry over 1.2 million passengers on a typical day.
    Read More

Highlighted Content