Type to search


SNC-Lavalin agrees $3.6bn Atkins takeover

SNC-Lavalin Group has reached an agreement with WS Atkins, approved by the boards of directors of both companies, on the terms of a cash acquisition of Atkins for GBP 20.80 per share, representing an aggregate cash consideration of GBP 2.1bn ($3.6bn).

The deal represents a 35 percent premium to Atkins’ closing share price on March 31, the last day before talks between the two companies were announced.

Headquartered in the UK, Atkins is one of the world’s most respected consultancies in design, engineering and project management, with a leadership position across the infrastructure, transportation and energy sectors, SNC-Lavalin said.

Tracing its roots back to 1938, Atkins today has 18,000 employees with revenues of approximately GBP 2bn in 2016, and is geographically diversified in the US, Middle East and Asia, together with a leading position in the UK and Scandinavia.

“We are very pleased to announce this proposed acquisition that is fully aligned with our growth strategy, creating a global fully integrated professional services and project management company – including capital investment, consulting, design, engineering, construction, sustaining capital and operations and maintenance.

“By combining two highly complementary businesses, we will increase our depth and breadth of services to position us as a premier partner to public and private sector clients,” said Neil Bruce, President & CEO.

He added: “It also creates new revenue growth opportunities in key geographies by positioning us to capitalise on increased cross-selling and the opportunity to win and deliver major projects in new regions.

“I look forward to welcoming Atkins’ employees into our combined company. Together, we will become part of a larger global organisation that will open the door to new opportunities for further growth and development.”

Web Development CompanyCheeltech