• News
  • Markets

Canadian engineering giant to buy Atkins for £2.1bn

Canadian engineering giant to buy Atkins for £2.1bn

Global design, engineering and project management consultancy Atkins, which operates from more than 40 offices across the United Kingdom, has agreed to the terms of a takeover offer which values the listed business at more than £2bn.

"We believe it is extremely likely that Atkins is acquired, but we believe that there is still a prospect that shareholders hold out for a higher bid from SNC or that an interloper appears", the analyst said in a note.

WS Atkins shares were up 4.8% on Friday at 2,078.00 pence.

It will acquire WS Atkins stock for 20.80 pounds per share in cash, subject to approval by shareholders, regulatory and court approval.

The merger will create a $12.1-billion global professional services and project management company with 53,000 employees.

The transaction is expected to close in the third quarter of the year, the companies said.

Justice Department Puts Pressure On Sanctuary Cities
Attorney General Jeff Sessions has warned the administration will punish communities that won't cooperate with efforts to find and deport immigrants in the USA illegally. money.

Most habitable planets may lack dry land
We also expect - and hope to check with future data - that the star is very quiet at high energies as well. This is what has allowed LHS 1140b to have most likely retained much of its atmosphere.

Wednesday forecast: chances for afternoon, evening showers in store for Polk County
Some additional showers and thunderstorms could develop Thursday afternoon to our west with an incoming warm front. On Thursday , there is a chance of rain showers, with thunderstorms also possible after 2 p.m.

SNC said its funding will also include an C$800 million ($594.00 million) public bought-deal offering.

The current chief executive of Atkins, Uwe Krueger (pictured), will step down and be replaced by Heath Drewett, Atkins chief financial officer.

SNC-Lavalin says the deal will enhance its global position in the areas of infrastructure, rail and transit, and nuclear energy, while adding new and complementary capabilities and significantly expanding its global customer base. "It also creates new revenue growth opportunities in key geographies by positioning us to capitalize on increased cross-selling and the opportunity to win and deliver major projects in new regions", said Neil Bruce, president and CEO of SNC-Lavalin. I look forward to welcoming Atkins' employees into our combined company.

About $120 million in cost savings are expected one year after the acquisition. "Together, we will become part of a larger global organisation that will open the door to new opportunities for further growth and development".

SNC-Lavalin said the combined entity would be able to capitalise on the significant investment being made in infrastructure projects around the world, but said this was particularly true in North America at present.

Leave Your Comment

Leave Your Comment


Latest News

  • 1st tropical depression of season forms far from land

    1st tropical depression of season forms far from land

    The first subtropical depression of the 2017 Atlantic hurricane season formed on Wednesday and became fully tropical Thursday. The formation of these tropical or sub-tropical lows usually requires sea surface temperatures (SSTs) of at least 26.5C.
    Japan and US set framework for economic talks

    Japan and US set framework for economic talks

    The system fires missiles from truck-mounted launchers and is already deployed on Guam to defend against North Korean missiles. Pence, himself, indicated that the administration is looking for a non-military way out of the crisis.
    Easter egg hunt at Emerald Cove Park

    Easter egg hunt at Emerald Cove Park

    After a few quick minutes, children walked away with smiling faces and baskets filled with colorful prizes. "We have a pair of St. Typically their Easter falls later than the mainstream Easter due to a different calendar, but for this year the dates line up.
  • Petroleum ministry red-flags move to shut petrol pumps on Sundays

    Petroleum ministry red-flags move to shut petrol pumps on Sundays

    While exact figures are not available on sales on Sundays, it will be around 20 per cent less", he said. He said all the outlets will have one staffer on Sundays who will supply fuel in an emergency.
    Facebook developing tech to allow users to type with their brains

    Facebook developing tech to allow users to type with their brains

    Similar to Braille, the technology would rely on manipulating the nerve endings in the skin to send and receive messages. Products from Building 8 will be powered by a breakthrough innovation engine modelled after DARPA and shipped at scale.
    Starbucks calls shifting-color drink a

    Starbucks calls shifting-color drink a "Unicorn Frappuccino"

    It is finished with a vanilla whipped cream and a sprinkle of sweet pink and sour blue powder topping. It's the new Unicorn Frappuccino blended beverage from Starbucks .
  • Moto E4 specs revealed at Geekbench

    Moto E4 specs revealed at Geekbench

    There are also rumors suggesting that the Moto E4 Plus (the bigger sibling of Moto E4) will feature a whopping 5,000mAh battery. The back of the device features a dual camera setup, but there have been conflicting reports regarding the thereof so far.
    $13 a pack? NYC mayor wants highest cigarette prices in US

    $13 a pack? NYC mayor wants highest cigarette prices in US

    In 2014, Eric Garner was killed when NY police officers placed him in a chokehold while trying to arrest him for selling loosies. April 20, is "All Acceptance Day" in New York City - a day when parents find out which Pre-K their child has been accepted to.
    Cabinet approves EC proposal to buy VVPAT machines

    Cabinet approves EC proposal to buy VVPAT machines

    EC has sought Rs 3,174 cr for procuring over 16 lakh paper trail machines to cover all polling stations in the country. Subramanian Swamy pleading for directions to the Election Commission to use VVPAT Units in all polling booths.
  • IPhone 8 Will Be Delayed

    IPhone 8 Will Be Delayed

    Apple also wants to integrate this iPhone's home button into the display using software like Samsung did with the Galaxy S8. New evidence that Apple is creating a rear fingerprint sensor for the upcoming iPhone 8 has surfaced online.
    Meghan Markle will be Prince Harry's date at Pippa Middleton's wedding

    Meghan Markle will be Prince Harry's date at Pippa Middleton's wedding

    Prince Harry's such a gentleman that if there actually isn't enough room, he'll stand so his girlfriend can sit. According to reports, Meghan Markle is totally invited to Pippa Middleton's wedding as Prince Harry's date!

    Bulls early surprise of playoffs after taking 2 at Boston

    Chicago coach Fred Hoiberg said he expected what is usually a high-energy Boston arena to be filled with even more emotion Sunday. Not to pile on Celtics fans, but for all the excitement of a young team grabbing that seed we're not talking about a juggernaut.
  • Microsoft Retiring Wunderlist Tool, Announces Replacement App Called To-Do

    Microsoft Retiring Wunderlist Tool, Announces Replacement App Called To-Do

    To-Do List arrives on Windows 10 as a universal app, so it works on both PCs along with smartphones running Windows 10 Mobile . Microsoft explains that the To-Do app offers new features including "My Day" which lists items that needed to be done.

    A late contest: 6th District

    That doesn't guarantee that polls for the June runoff will be almost as predictive. "It is all Republicans, all hands on deck". On Twitter, he had called Ossoff a "super liberal" who doesn't even live in the district , and on a robocall, he went further.
    Netflix shares on track for worst day in five months

    Netflix shares on track for worst day in five months

    The net profit is estimated at United States dollars 66 million, with the operating margin at 4.4 percent. The trend has confronted Netflix with more competition in the battle for household entertainment budgets.
  • Apple wants to end reliance on mining "one day"

    Additionally, the report also stated that Apple's suppliers have also promised to use renewable energy by end of 2018. The ultimate aim is "to one day end our reliance on mining altogether", the company said, without specifying a date.
    White Nationalist's Wow To Speak At Auburn Causes Outrage

    White Nationalist's Wow To Speak At Auburn Causes Outrage

    The pair only got in about two punches before police took them to the ground and restrained them using plastic restraints. Police are reporting arrests linked to an appearance at Auburn University by white nationalist Richard Spencer .
    Trump Slams Former Presidents Clinton, Obama While Discussing North Korea Policy

    Trump Slams Former Presidents Clinton, Obama While Discussing North Korea Policy

    The top Democrat on the Senate foreign relations committee on Monday implored President Donald Trump to prove he has an effective policy in mind on North Korea.

Breaking News



Recommended

OPEC slashes output in March, expects shale comeback

Despite the decline, oil prices didn't regain strength due to the inventory report amid a rise in USA oil production. Brent for June settlement was 16 cents higher at $56.39 a barrel on the London-based ICE Futures Europe exchange.

Trump to Sign Measures to Review Financial Regulation

The secretary of Treasury must provide the president with a report within 150 days recommending specific action. Mnuchin now says the administration still hoped to get a bill passed well before the end of the year.

FDA further restricts pain medication use in kids

Conclusively, parents should actively check for any warning labels on medication that they plan to give to their children. The FDA recommends that parents talk to a doctor before giving their children such drugs.

Bay Area in Top 10 for Worst Air Pollution Nationwide

Kalamazoo County was the only one in West Michigan with a dropping grade, moving from an "A" to a "B" for particle pollution . Westchester County had an "F" for high ozone days, the same as past year .

Giant iceberg draws crowds to tiny Newfoundland town

Ferryland Mayor Adrian Kavanagh told The Canadian Press on Monday that the iceberg looked grounded and could stick around. The big iceberg is one of many that have passed by off the coast of Newfoundland and Labrador this year.

Pagegroup PLC (MPI) Upgraded to Buy at Kepler Capital Markets

After $-0.11 actual EPS reported by Ardmore Shipping Corp for the previous quarter, Wall Street now forecasts 0.00% EPS growth. Over the last 30 and 90 trading days the company share price has increased 40 points and increased 121.5 points respectively.

AMD officially launches Polaris Evolved RX 500 series

The RX 570, which aims for "maximum" 1080p gaming, will go for around $169, while the slightly slower RX 560 will start at $99. Just last week we had reported about the leaked specifications and box images of AMD's Radeon 500-series of graphics cards.

Homeland secretary promises criminalization of marijuana

Between 2012 and 2013 , marijuana possession was one of the top five most common offenses for which the U.S. Kelly's comments are harmful, and someone should explain to him what a fool he looks like right now.

Sheriff's deputy shot, killed while serving eviction notice in Oklahoma

While serving that eviction notice, officials say the deputy was shot multiple times in the body and face by Nathan LeForce. Authorities are searching for a suspect who shot a Logan County deputy and stole two vehicles Tuesday morning.

Trump vows to back USA dairy farmers in Canada trade spat

US farm groups say that effectively blocks American dairy exports, exacerbating a glut of milk on the American side of the border. It is frequently criticized by other dairy-producing countries.