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

  • Kapsch sets course for higher profitability
    February 26, 2015
    Kapsch TrafficCom experienced stable business development in the first three quarters of 2014/2015 with existing installation and operation projects. The Group was also able to obtain a number of new orders in Australia during the third quarter, although new major orders, upon which the innovation and growth plans are based, remained elusive due to the lack of corresponding invitations to tender. Revenue of the Group during the first three quarters of the 2014/15 fiscal year was US$283.5 million, slightly b
    Read More
  • Transition to all electronic tolling leads to cost savings
    February 2, 2012
    How a temporary congestion-relief solution resulted in the North Texas Tollway Authority's transition to all-electronic toll collection and potential savings of up to $472 million by 2045. By Carla Kienast, ETC Corporation
    Read More
  • Ho Chi Minh City ‘must invest in transportation system’
    November 21, 2014
    Ho Chi Minh City (HCMC) could generate economic benefits of US$1.4 billion by investing in making its transportation system more resilient in extreme weather conditions, a study released by Siemens and consulting firm Arup today shows. Siemens and the Arup prepared the study, to show how intelligent infrastructure can assist cities in addressing the increased demand and at the same time offer better protection of their transport networks against extreme weather events. Calculations based on a review o
    Read More
  • New York to pilot cordon-based congestion charging
    March 16, 2012
    From 2009, if all goes to plan, New York will run a three-year cordon-based congestion charging pilot - the first in the US. Upon accession, US Secretary of Transportation Mary Peters signalled her intention to continue her predecessor Norman Mineta's initiative to specifically target road congestion. And, with initiatives such as the US Department of Transportation's (USDOT's) Urban Partnership Program actively promoting tolling as a part of a compound solution to the problem, the way was opened for the co
    Read More

Highlighted Content