Canadian engineering giant to acquire Atkins for £2.1bn



A  £2.1 billion agreement was agreed to pave the way for Canadian engineering giant SNC-Lavalin to bring together the UK consulting firm WS Atkins, which employs more than 100 architects in the UK

It was announced last night (April 20) that the boards of directors of both companies had shaken the takeover, which will allow SNC-Lavalin to pay 2,080 p in cash for each share of Atkins.

The move will see Atkins, ranked 10th in the AJ100 league of last year, as part of a £ 7.1 billion global mega-company offering an "integrated project management and professional services company with 53,000 employees. "

According to the announcement, the recovery will significantly improve SNC-Lavalin's overall margins and further balance its commercial portfolio.

The statement reads as follows: "The acquisition will improve SNC-Lavalin's global position and addressable market in infrastructure, rail and transit and nuclear, combining two highly complementary companies and increasing geographic reach and diversification Of customers worldwide. "

The Canadian outfit has offices in more than 50 countries and posted sales of £ 10 billion in 2015. The newly expanded business will continue to be headquartered in Montreal.
News via Architect's Journal