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magazineWS Atkins succumbs to $2.6bn approach
Canadian group SNC-lavalin has proposed to pay £20.80 per share for engineering consultancy WS Atkins (ATK).
This values the firm at $2.6bn and supported a 27.3% rise to £19.50, suggesting the market does not expect rival bid interest.
Atkins’ board seems satisfied with the proposal, saying it delivers value to shareholders and all that is left is to reach agreement on other terms and conditions. Investment bank Liberum says the deal is a stretch for SNC but is likely to be well supported.
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