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

  • Picking it up as we go: how transportation agencies can learn from university research
    May 17, 2024
    JTA Research Lab has been created to identify critical transportation policy questions, and get academics to help solve them. Pencils sharpened? Nathaniel P. Ford explains…
    Read More
  • Grab going public for $39.6bn
    April 14, 2021
    Singapore-based Grab says it has more than 70% of south-east Asia ride-hail market
    Read More
  • Jonathan Raper from TransportAPI is surfing the open data tidal wave
    August 13, 2015
    Jonathan Raper, managing director of the TransportAPI talks to Colin Sowman about the benefits open data can bring to the public transport sector. That the digital revolution would change the world, including transport, was never in doubt but the question has always been: how? Now, with the ‘Millennium Bug’ relegated to a question on quiz shows, the potential and challenges of digital technology are starting to take shape - and Jonathan Raper is in the vanguard. Raper is managing director of the open data t
    Read More
  • Viaduct deck renewal creates detour dilemma for MassDOT
    May 26, 2016
    As the deck renewal of the I-91 viaduct in Springfield gets underway, David Crawford looks at the preparation and planning to ease the resulting traffic congestion. Accommodating the deck renewal of a 4km-long/four-lanes in each direction viaduct in the heart of Springfield (Massachusetts’ third largest city), has involved the state’s Department of Transportation (MassDOT) in a massive exercise in transport research and ITS-based area-wide preplanning and traffic management. Supporting a workzone of well ab
    Read More

Highlighted Content