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

  • NIC releases assessment to prepare UK for EVs and AVs
    July 16, 2018
    The UK government, energy regulator Ofgem and local authorities should enable the rollout of charging infrastructure to allow close to 100% electric vehicle (EV) sales by 2030, says The National Infrastructure Commission (NIC). The NIC has published its National Infrastructure Assessment to set out a long-term vision for sustainable economic infrastructure and help prepare the UK for the growth of EVs and autonomous vehicles. NIC’s assessment recommends Ofgem to regulate the interaction between EV c
    Read More
  • Continental and BMW Group partner on automated driving
    February 27, 2013
    German automotive supplier Continental and BMW Group are pooling their development capacities to define the long-term prerequisites for series introduction of highly automated driving on European freeways. The two companies have signed an agreement to jointly develop an electronic co-pilot for this purpose, with the aim of paving the way to automated driving functions beyond the year 2020. “Automated driving is a key element in future mobility. It will significantly enhance safety, comfort and efficiency on
    Read More
  • Associations News from around the world
    December 4, 2012
    The world’s ITS Associations participated in the ITS World Congress in Vienna, including: New Zealand, which stressed the need for future proof ITS solutions; the Netherlands; Australia called for greater ITS content in road safety strategy; ITS South Africa discussed new strategic opportunities in the country; ITS Nigeria took advantage of the World Congress to stage its global launch; UK ITS professionals were congratulated on their achievements during the Olympic Games by ITS UK; ITS Canada co-hosted a w
    Read More
  • Align transport infrastructure needs with ITS offerings
    July 19, 2012
    Kallistratos Dionelis, General Secretary of ASECAP, ponders the absence of creativity and innovation in the road management sector. 'Traditional' road managers and ITS specialists share many of the same ultimate goals and yet, he says, a common understanding of what technology can achieve is still conspicuously absent.
    Read More

Highlighted Content