Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  WS Atkins PLC    ATK   GB0000608009

No quotes available
-- GBp   0.00%
07/03 NORGES BANK : - Form 8.3 - WS Atkins PLC
06/30 NORGES BANK : - Form 8.3 - WS Atkins PLC
06/21 NORGES BANK : - Form 8.3 - WS Atkins PLC
SummaryQuotesNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets
503 Backend fetch failed

Error 503 Backend fetch failed

Backend fetch failed

Guru Meditation:

XID: 708378636


Varnish cache server

WS Atkins : Canada's SNC-Lavalin to buy WS Atkins in C$3.6 billion deal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/21/2017 | 12:21am CEST
A pedestrian walks past the SNC-Lavalin Group Inc., headquarters in Montreal

Canadian engineering and construction company SNC-Lavalin Group Inc (>> Snc-Lavalin Group Inc) on Thursday said it would buy British engineering and consultancy firm WS Atkins Plc (>> WS Atkins PLC) for C$3.6 billion (2.08 billion pounds), firming up an indicative offer it made earlier this month.

Canadian engineering and construction company SNC-Lavalin Group Inc (>> Snc-Lavalin Group Inc) on Thursday said it would buy British engineering and consultancy firm WS Atkins Plc (>> WS Atkins PLC) for C$3.6 billion (2.08 billion pounds), firming up an indicative offer it made earlier this month.

SNC-Lavalin's offer of 2080 pence ($26.66) per share in cash is the same as the indicative offer Atkins disclosed on April 3. It represents a 35.1 percent premium to Atkin's closing price on March 31.

“This acquisition is fully aligned with our stated growth strategy of becoming a recognised E&C (engineering and construction) powerhouse,” Neil Bruce, chief executive of Montreal-based SNC, said on a conference call.

The combination creates a global company specializing in professional services and project management with C$12.1 billion in revenues and 53,000 employees.

Bruce said the deal would boost SNC’s position in its nuclear, rail and transportation and infrastructure core businesses, while reducing its exposure to oil and gas.

Canadian pension fund Caisse de depot et placement du Quebec (CDPQ), SNC's biggest shareholder, will extend a loan of C$1.5 billion ($1.11 billion) to SNC and buy C$400 million ($297.00 million) of equity in the company to help finance the acquisition.

The loan will be secured by the value and cash flows of SNC-Lavalin's interest in the Highway 407 ETR project in Ontario, CDPQ said separately.

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

The deal is expected to generate about C$120 million in cost savings, including C$90 million ($66.83 million) from Atkins and C$30 million ($22.28 million) from SNC, through efforts such as eliminating corporate costs and consolidating offices, Bruce said.

RBC was SNC's financial adviser, while Norton Rose Fulbright provided legal counsel.

The transaction is expected to close in the third quarter of 2017, SNC said.

($1 = 0.7802 pounds)

($1 = 1.3468 Canadian dollars)

(Reporting by Allison Lampert; Additional reporting by John Benny in Bengaluru; Editing by Leslie Adler)

By Allison Lampert

Stocks treated in this article : Snc-Lavalin Group Inc, WS Atkins PLC
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WS ATKINS PLC
07/06 SNC LAVALIN : Completes Transformative Acquisition of WS Atkins
07/04 SNC LAVALIN : completes acquisition of WS Atkins
07/04 SNC LAVALIN : completes acquisition of WS Atkins
07/04 WS ATKINS : Multi-billion pound takeover of WS Atkins, Epsoms largest employer, ..
07/03 SNC LAVALIN : completes WS Atkins takeover
07/03 NORGES BANK : - Form 8.3 - WS Atkins PLC
06/30 NORGES BANK : - Form 8.3 - WS Atkins PLC
06/21 NORGES BANK : - Form 8.3 - WS Atkins PLC
06/20 NORGES BANK : - Form 8.3 - WS Atkins PLC
06/16 WS ATKINS : Boost for WS Atkins
More news
News from SeekingAlpha
04/21 SNC Lavalin (SNCAF) Acquires WS Atkins (WATKF) For US$2.67B - Slideshow
04/10 FOCUS ON EUROPE : Will An Akorn - Fresenius Deal Pass Anti-Trust Scrutiny?
03/28 WS Atkins plc ADR (WATKY) Investor Presentation - Slideshow
02/10 WS Atkins's (WATKF) Q3 2016 Trading Update Call (Transcript)
2015 Defense Stocks Are Fabulous - Cramer's Lightning Round (1/29/15)
Financials ( GBP)
Technical analysis trends WS ATKINS PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
 
Mean consensus
Number of Analysts
Average target price -
Spread / Average Target -100%
EPS Revisions
Managers
NameTitle
Heath Drewett President
Richard Cross Group Chief Information Officer
James Cullens Executive Director & Group-HR Director
Richard Webster Group Secretary
Gary Gaskarth Head-Corporate Communications
Sector and Competitors
1st jan.Capitalization (M$)
WS ATKINS PLC0.00%0
FISERV13.63%25 418
CIELO SA-0.64%19 519
SECOM CO LTD-5.95%17 160
SGS3.33%16 971
FIRST DATA CORP24.67%16 328