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

  • Progress on speeding ‘may be hampered by confusion on 20mph limits’
    July 5, 2017
    The percentages of vehicles exceeding the speed limit in free flow conditions on UK roads have declined slightly for most vehicle and road types between 2011 and 2016, according to statistics published by the Department for Transport.
    Read More
  • Developments in urban traffic management and control
    February 1, 2012
    Mark Cartwright, Centaur Consulting, discusses developments in urban traffic management and control. Despite the concept of UTMC (Urban Traffic Management and Control) having been around for some years now, there remains a significant rump of confusion as to its relationship with its similar-sounding cousin UTC (Urban Traffic Control). To many people, the two are one and the same. However, this is not the case.
    Read More
  • Variable message signs continue to deliver travel information
    February 2, 2012
    Arguably the 'face' of ITS, variable message signs are far from being a passing solution
    Read More
  • Tolling agencies build resilience into highway operations
    August 6, 2013
    IBTTA executive director and CEO Patrick D. Jones looks at tolling’s resilience in an increasingly unpredictable and cash-strapped world. Turbulent times call for transportation agencies to move smarter. That’s why resilience and preparedness have become watchwords in every aspect of tollway operations. From having the financial resources to invest in construction, maintenance and roadway operations, to having up-to-date emergency plans and social media strategies to cope with severe weather, tolling agenci
    Read More

Highlighted Content