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

  • March 1, 2021
    Cabify makes car-share deal with Wible
    Ride-hailing firm has included car-share tie-up for app users in Spanish capital Madrid
    Read More
  • February 2, 2012
    Economic crisis needs non-partisan perspectives to stimulate growth
    Kary Witt, President of the IBTTA and Pat Jones, Executive Director and CEO, talk about the need to put aside partisan perspectives in order to deal with the current economic crisis
    Read More
  • April 20, 2012
    Electric and hybrid vehicles fall out of favour with corporate fleets in Europe
    According to the Arval, the car rental division of French banking group, BNP Paribas, the interest of Spanish companies in adding electric vehicles to their fleet has dropped 90 per cent in the past year, with just two per cent of companies expecting to opt for this type of vehicle before 2014. In 2010, 21 per cent said they would chose them. Hybrid cars also lost favour, with a 47 per cent drop in the number of companies intending to use them in their fleet from 30 per cent in 2010 to 16 per cent currently
    Read More
  • July 26, 2013
    DG MOVE’s Christos Economou on the EU’s vision for road transport
    Christos Economou, Deputy Head of Unit dealing with land transport within the European Commission’s DG MOVE, describes a new framework for road charging in Europe to Jason Barnes. Within the European Union (EU), two Directives shape the legislative framework on road charging. Directive 1999/62/EC sets up a number of rules to make sure that national road charging schemes do not distort competition on the internal market or discriminate between hauliers. It is misleadingly called ‘Eurovignette’ after the comm
    Read More

Highlighted Content