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

  • Why do consumers buy electric cars?
    April 25, 2012
    The International Transport Forum at the OECD, an intergovernmental organisation for the transport sector that comprises 52 countries, has announced the winner of its 2011 Young Researcher of the Year Award. The Award, which is open to researchers under 35 years of age and carries a prize of US$ 7,000, goes to Canadian national Dr. Jonn Axsen of the University of California at Davis, USA.
    Read More
  • 2012 US Urban Mobility Report published
    February 8, 2013
    Researchers at the Texas A&M Transportation Institute (TTI) have come up with a way to measure the unreliability of trip times due to traffic congestion. The Planning Time Index (PTI) illustrates the amount of extra time needed to arrive on time for higher priority events, such as an airline departure, just-in-time shipments, medical appointments or especially important social commitments. If the PTI for a particular trip is 3.00, a traveller would allow sixty minutes for a trip that typically takes twenty
    Read More
  • Vendor's eye view of US economic stimulus programme
    March 12, 2012
    Pete Goldin explores the impact of the US economic stimulus programme on the ITS industry from the ITS vendor perspective
    Read More
  • Fasten your seatbelts: it’s going to be a bumpy ride
    June 26, 2018
    A spat has broken out between two major US transportation organisations over how best to pay for road use: the ATA says tolls are ‘fake funding’ while IBTTA has scorned ‘scare tactics and falsehoods’… Much has been made of the state of US roads: everyone agrees that funding is needed – but who should pay? And how? Chris Spear, president and CEO of American Trucking Associationsm(ATA), believes finance is facing a cliff edge: the Highway Trust Fund (HTF), historically the primary source of federal revenue
    Read More

Highlighted Content