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

  • New vehicle technologies ‘could help reduce fatalities on European motorways’
    March 5, 2015
    New safety technologies could play a major role in reducing the numbers killed on European motorways, according to the European Transport Safety Council (ETSC), in a new report published today. The new analysis of developments in motorway safety shows that, despite recent progress, around 1,900 were killed on motorways in the EU in 2013. The report cites figures from several countries showing that up to 60 per cent of those killed in motorway collisions were not wearing a seatbelt. It calls on the EU to req
    Read More
  • European associations and congress news
    August 19, 2015
    A preliminary speaker line-up and a number of live demonstrations have been announced for the 2015 ITS World Congress. The demonstrations will include Automatic Braking, a plug in ‘connected vehicle’ Cooperative Adaptive Cruise Control at Intersections, Remote Parking and Driver Monitoring System for Automated Driving and Bicycle Tracking. As part of the Automatic Emergency Braking demonstration the driver’s performance will be analysed, along with the behaviour of the other road users. Drivers will receiv
    Read More
  • Qatar invests $70 billion to pave the way to world beating transportation
    July 26, 2013
    Eng. Zeina Nazer looks at what Qatar’s recently-announced investment in transport infrastructure will mean on the ground. Qatar is experiencing a rapid economic and industrial growth. This growth is characterised by a rapid population increase and by the urgent need towards the development of both infrastructure projects and major transport projects. In order to handle this rate of development within Qatar, Public Works Authority (Ashghal) is developing a fully-integrated multimodal transportation system in
    Read More
  • IAM calls for more visible policing as speeding offences rise
    October 1, 2015
    Figures obtained by the Institute of Advanced Motorists (IAM) show that, over the last decade, speeding is still the biggest motoring-related offence where the defendant is found guilty in court. The numbers of those found guilty have risen sharply in the past 12 months – from 115,935 to 148,426, an increase of 28 per cent, the highest number since 2005. The 2014 figures were two per cent greater than 2004. The next highest offence where defendants were found guilty was vehicle insurance-related crime
    Read More

Highlighted Content