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

  • ITS needs to talk the talk as well as walk the walk
    March 24, 2014
    The US automated enforcement market is in rude health as the number of systems and applications continues to grow and broaden. Jason Barnes reports. Blessed and cursed – arguably, in equal measure – with a constitution which stresses the right to self-expression and determination, the US has had a harder journey than most to the more widespread use of automated traffic enforcement systems. In some cases, opposition to the concept has been extreme – including the murder of a roadside civil enforcement offici
    Read More
  • Asian cities dominate ranking of world's biggest and busiest metros
    November 6, 2015
    Asian cities dominate the ranking of the world’s biggest and busiest metro systems, according to a new report from UITP, the International Association of Public Transport. The report, World Metro Figures, is a comprehensive study on the current state of the world’s metro networks and highlights potential future developments. The report shows that in 2014, 156 cities around the world had a metro system in operation, nearly two thirds of which were in Asia and Europe. The world’s busiest metro networ
    Read More
  • In-vehicle safety standard released for consultation
    July 24, 2012
    The new ISO 26262 standard for safety-related vehicle systems is now available for comment. MIRA's David Ward talks to ITS International about what the standard will mean for vehicle and road safety in the future. The publication on 8 July this year of ISO 26262 as a Draft International Standard (DIS) marks an important progression for the automotive - and, in time, the cooperative infrastructure - industries. A couple of years from now, automotive OEMs will be able to subscribe to a unifying standard for s
    Read More
  • TfL consults on proposals to withdraw cash fare payments
    August 20, 2013
    Transport for London (TfL) has launched a public consultation to seek customers’ views on proposals to withdraw cash fare payments on London buses. Since the introduction of the Oyster card in 2003, and the launch of contactless payment cards on London’s buses last year, fewer than one per cent of bus fares are now paid in cash, down from 25 per cent in 2000. TfL is now putting proposals to passengers that would see cash fare payments on London buses ending in 2014. Research shows that the majori
    Read More

Highlighted Content