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

  • China plans more ITS deployment despite economic slowdown
    March 30, 2017
    The Chinese government is turning to ITS to help solve urban traffic congestion in the majority of its large cities. Eugene Gerden reports. China is investing an estimated 3.5bn yuan ($551 million) per year in ITS and while the country’s current economic strategy may see this decline, the government plans to continue active development of the national intelligent transport system.
    Read More
  • Jenoptik measures out the future
    June 15, 2022
    The speed of tech changes means Jenoptik is redrawing how it sees itself. Adam Hill catches up with Stefan Traeger and Kevin Chevis at Intertraffic Amsterdam to find out more about ‘extended reality’…
    Read More
  • Monitoring and transparency preserve enforcement's reputation
    July 30, 2012
    What can be done to preserve automated enforcement's reputation in the face of media and public criticism? Here, system manufacturers and suppliers talk about what they think are the most appropriate business models. Recent events in Italy only served to once again to push automated enforcement into the media spotlight. At the heart of the matter were the numerous alleged instances of local authorities and their contract suppliers of enforcement services colluding to illegally shorten amber signal phase tim
    Read More
  • ‘Biggest upgrade to roads in a generation’
    December 1, 2014
    An ambitious US$23.5 billion plan to triple levels of spending by the end of the decade to increase the capacity and condition of England’s roads was announced to Parliament today by Transport Secretary Patrick McLoughlin and Chief Secretary to the Treasury Danny Alexander. The government is investing in more than 100 new road schemes over this parliament and next, 84 of which are brand new today. Over 1,300 new lane miles will be added by schemes being delivered over the next parliament on motorways
    Read More

Highlighted Content