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

  • October 19, 2016
    Results from Project EDWARD
    Results from the first European Day Without A Road Death (Project EDWARD) on 21 September have been published by TISPOL (the European Traffic Police Network) and the European Commission. Project EDWARD took place in 31 countries and more than 103,000 organisations and individuals signed a road safety pledge on the website of the European Traffic Police Network (TISPOL). More than 80 road safety actions were organised across Europe, including information and awareness-raising activities in schools and com
    Read More
  • March 30, 2012
    Maryland TA seeks approval to spend $19.5 million on E-ZPass transponders from Kapsch
    The Maryland Transportation Authority (Maryland TA) in the US will need US$19.5 million to buy new transponders for drivers who use the state's E-ZPass electronic toll collection system, but requires approval from the Board of Public Works. A total of two million transponders will be purchased by Maryland TA from Kapsch TrafficCom which makes the transponders, and they will cost users $9 compared to the original price of $21.
    Read More
  • December 5, 2014
    Small toll agency adopts big city thinking
    Andrew Bardin Williams looks at a novel option for new toll road authorities. While somewhat politically controversial, outsourcing has gained traction in the business world as a model worth investigating for its efficiency and cost saving benefits. Lean start-ups tend to employ independent contractors instead of full-time employees in an effort to remain flexible and avoid costs associated with pensions, retirement places, health insurance, office space and benefit packages.
    Read More
  • January 30, 2012
    Stepped speed limits improve workzone congestion and safety
    Traffic flow has been improved, congestion eased and safety increased - by a system of 'stepped speed limits' introduced to UK roadworks. URS Scott Wilson principal consultant Jamie Uff reports
    Read More

Highlighted Content