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Bids, Mergers and Takeovers

WS Atkins agrees terms of acquisition by SNC-Lavalin

21 April 2017 07:42

SNC-Lavalin Group Inc and WS Atkins have reached agreement on the terms and conditions of a recommended all-cash acquisition of the latter company by SNC-Lavalin (GB) Holdings Ltd (SNC-Lavalin Bidco).

Under the terms of the deal, each Atkins shareholder would receive 2080p in cash. This valued Atkins' entire issued and to be issued ordinary share capital at about £2.1bn.

The deal would create a C$12.1bn global fully integrated professional services and project management company with 53,000 employees and significantly improve SNC-Lavalin's overall margins, and further balance its business portfolio.

It would enhance SNC-Lavalin's global position and addressable market in infrastructure, rail & transit and nuclear, combine two highly complementary businesses and increase both geographic reach and customer diversification globally.

The combined entity would continue to have its head office in Montreal, Canada.

Story provided by StockMarketWire.com

Related Company: ATK

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