UK-based design, engineering and project management consultancy WS Atkins and Canada’s SNC-Lavalin Group have reached agreement on the terms and conditions of a recommended all cash acquisition of the entire issued and to be issued share capital of Atkins by SNC-Lavalin (GB) Holdings Limited.
Under the terms of the acquisition, each Atkins shareholder will be entitled to receive GBP 20.80 in cash for each share.
The acquisition values Atkins’ entire issued and to be issued ordinary share capital at approximately GBP 2.1 billion.
The deal is expected to become effective in the third quarter of 2017.
“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,” Neil Bruce , President & CEO of SNC-Lavalin, said.
”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. 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.”
Atkins’ latest offshore wind projects include the Dounreay Trì floating wind project , the Blyth Offshore Demonstrator wind farm , and the Beatrice offshore wind farm .