WS Atkins agrees terms of acquisition by SNC-Lavalin

SNC-Lavalin Group Inc and WS Atkins have reached agreement on the terms and conditions of a recommended all-cash acquisition of the latter company by SNC-Lavalin (GB) Holdings Ltd (SNC-Lavalin Bidco).

Under the terms of the deal, each Atkins shareholder would receive 2080p in cash. This valued Atkins' entire issued and to be issued ordinary share capital at about £2.1bn.

The deal would create a C$12.1bn global fully integrated professional services and project management company with 53,000 employees and significantly improve SNC-Lavalin's overall margins, and further balance its business portfolio.

It would enhance SNC-Lavalin's global position and addressable market in infrastructure, rail & transit and nuclear, combine two highly complementary businesses and increase both geographic reach and customer diversification globally.

The combined entity would continue to have its head office in Montreal, Canada.