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

  • No sign of a decrease in motor fatalities says National Safety Council
    August 24, 2016
    Preliminary estimates from the National Safety Council indicate that motor vehicle deaths in the US were nine per cent higher through the first six months of 2016 than in 2015, and 18 per cent higher than two years ago at the six month mark. An estimated 19,100 people have been killed on US roads since January and 2.2 million were seriously injured. The total estimated cost of these deaths and injuries is US$205 billion. The upward trend began in late 2014 and shows no signs of decreasing. Last winter, t
    Read More
  • Causeway One.network's Route Manager launched in US
    December 5, 2024
    Platform aims to prevent disruption to planned transit routes
    Read More
  • Thales to sell its revenue collection, tolling, car park management business
    November 18, 2016
    International technology company Thales has entered into exclusive negotiations with French private equity firm Latour Capital with a view to divesting its ticketing and revenue collection, road tolling and car park management systems business, in line with the company’s strategy of business portfolio optimisation. With close to 850 employees mainly based in France, the Netherlands, Denmark, Italy, Mexico, Hong Kong, India, New Zealand and Egypt, this business generated sales of US$165 million (€155 mil
    Read More
  • Securing V2X communications
    June 6, 2016
    Cybersecurity developments are moving fast in the automotive sector, but they’re a significant hurdle for the roll-out of C-ITS applications. Jon Masters reports. In the wake of the high-profile hacking of the Jeep Cherokee and problems like the flaw in the Nissan Leaf’s companion app that could compromise the security of data about recent journeys, initiatives linked to vehicle cybersecurity seem to be moving rapidly.
    Read More

Highlighted Content