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.

Related Content

  • June 5, 2015
    Tolling is the 21st century’s road funding solution
    HNTB’s Rick Herrington and Brad Guilmino put the case for tolling. Tolling is becoming the 21st century solution of choice for generating additional user-based transportation revenue. The proven funding source is being seriously considered for expanded use by cities, states and even the federal government with support from elected officials across the political spectrum. In fact, with each federal transportation reauthorisation, tolling restrictions have been relaxed.
    Read More
  • October 9, 2017
    Moovit partners with Atkins to improve city transport systems
    Design and project management consultancy, Atkins has signed a global agreement with transit data and analytics company Moovit to help cities improve their transit systems and become more efficient smart cities. The partnership will help in the design and delivery of people's movement in cities across all transport systems, along with the ability to meet the demands of new intelligent mobility opportunities.
    Read More
  • January 6, 2016
    Varying acceptance of tolling in Africa
    Tolling technology is now at an advanced state but governments have a key role in ensuring the success of schemes as is evident in Africa. Shem Oirere reports. According to the African Development Bank, the continent has an estimated $46bn of infrastructure financing deficit. The bank says sub-Saharan Africa requires $93bn annually to meet its infrastructure development needs - but only half of the financing is available.
    Read More
  • January 6, 2016
    Varying acceptance of tolling in Africa
    Tolling technology is now at an advanced state but governments have a key role in ensuring the success of schemes as is evident in Africa. Shem Oirere reports. According to the African Development Bank, the continent has an estimated $46bn of infrastructure financing deficit. The bank says sub-Saharan Africa requires $93bn annually to meet its infrastructure development needs - but only half of the financing is available.
    Read More

Highlighted Content