Shares in consultant Atkins soared today after it revealed a offer from Canadian engineering services group SNC-Lavalin.
The £20.80 a share all cash offer represents a £35% premium on Atkin’ shares price last Friday.
Atkins’ board has indicated that the preliminary offer from the Montreal-based firm was at a level that the board would be prepared to recommend, subject to reaching agreement on the other terms and conditions of the offer.
Both companies are in discussions on other terms of the offer and SNC-Lavalin is required to announce a firm intention to make an offer to Atkins on May 1.
Founded in 1911, SNC-Lavalin operates from over 50 offices worldwide claiming to be is one of the world’s leading engineering and construction groups and a major player in the ownership of infrastructure.
from Construction Enquirer http://www.constructionenquirer.com/2017/04/03/canadian-consultant-unveils-2bn-atkins-takeover-bid/
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