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

  • LA can learn from Oakland UBM
    July 15, 2022
    Los Angeles is just embarking on its universal basic mobility journey – but fortunately the city can draw on the findings of a similar programme in Oakland…
    Read More
  • Canadian transport ministers plead for cash
    June 9, 2020
    Some cities have stopped charging for transit trips during the pandemic
    Read More
  • Making all vehicles autonomous could reduce traffic accidents, says report
    February 16, 2016
    The widespread adoption of autonomous vehicles could bring billions of pounds to the UK economy and save hundreds of lives, according to a new report by the Institution of Mechanical Engineers, which is calling for urgent Government and industry action to encourage the greater use of autonomous and driverless vehicles. It also calls for urgent resolution of legislative, technological and insurance issues to help encourage the rollout of autonomous or driverless vehicles. Philippa Oldham, head of transpor
    Read More
  • Unlocking Toronto’s gridlock
    March 26, 2013
    A project by University of Toronto professor of civil engineering Professor Baher Abdulhai marries cameras with computers to create traffic lights that can measure vehicle flow, understand what it means, and adapt signal patterns to reduce gridlock. “We want the traffic light to learn from experience,” explained Prof. Abdulhai, who is principal investigator on the University of Toronto project, dubbed Marlin, and an expert in intelligent transportation systems (ITS). “In the Toronto experiment we cut down d
    Read More

Highlighted Content