SNC-Lavalin to pick up WS Atkins for C$3.6 billion
April 21, 2017
Construction and Engineering | Epsom, UK | Corporate Acquisition
Canadian engineering and construction business SNC-Lavalin (TSX: SNC) has agreed to acquire design and engineering consultancy WS Atkins (LON: ATKW) for £20.80 ($26.66) per share in cash, or aggregate consideration of C$3.6 billion ($2.67 billion). Atkins employs some 18,000 people and logged 2016 revenues of approximately £2 billion. As part of the deal, Caisse de dépôt et placement du Québec, reportedly SNC's largest shareholder, has agreed to extend a loan of C$1.5 billion ($1.11 billion) in exchange for C$400 million ($297 million) of equity in Atkins.