hp for ($i=0; $i]+>!is", "", $news['Contains'][$i]['Body']); ?>

Lavalin to acquire Atkins


WS Atkins PLC late Thursday confirmed it has agreed to a takeover offer from Canadian engineering services firm SNC-Lavalin Group Inc which values the United Kingdom engineering and project management firm at GBP2.1 billion.

SNC-Lavalin's offer of 2080 pence ($26.66) per share in cash is the same as the indicative offer Atkins disclosed on April 3. The Atkins board approves the deal and is recommending shareholders accept.

The Montreal-based company (TSX:SNC) announced the transaction Thursday, about two weeks after it confirmed making a tentative offer.

The UK company will not pay any final dividend for the financial year ended 31 March 2017.

This merger will create a $12.1 billion professional services and project management company with 53,000 employees.

However, Liberum analyst Joe Brent said SNC could still face a rival bidder or Atkins shareholders might wait for a bigger bid from the Canadian firm.

Verizon Loses Its Wireless Subscribers, Profits Plunge
According to Thomson Reuters I/B/E/S, analysts had expected adjusted earnings per share of 99 cents and revenue of $30.77 billion. For its Fios service, Verizon added 35,000 internet subscribers, lost 13,000 cable subscribers and lost 8,000 voice subscribers.

The acquisition will bring new and complementary capabilities to SNC-Lavalin in three of its four sectors, and with essentially no overlap in its service offering, with a significant presence in Europe, U.K., Scandinavia, the U.S., Middle East and Asia, the company said.

On top of any cross-selling benefits and increased geographical reach, SNC-Lavalin anticipates delivering annual cost synergies of around CAD120.0 million by the end of 2018 - split CAD90.0 million from WS Atkins and CAD30.0 million from SNC-Lavalin.

"This transaction has the potential to transform SNC-Lavalin into one of the leading engineering consulting firms in the world", said Michael Sabia, president and chief executive officer of the Caisse, in a news release.

"Having achieved our strategic target of 8 per cent operating margin, the Atkins directors believe that Atkins is strongly positioned to execute on its growth strategy going forward".

"SNC-Lavalin does not expect this integration review to have a material impact on the continued employment of Atkins' employees", SNC-Lavalin said in a statement.

Related News:

  • Rumor: SNES Mini Coming This Holiday Season

    Rumor: SNES Mini Coming This Holiday Season

    Nintendo likely had to choose one or the other , so it stuck with its plan to launch a new novelty mini-console this holiday. This tiny device offering 30 classic games updated to support the HD TVs we all now own proved to be extremely popular.
    'Mississippi Grind' directors sign on for 'Captain Marvel'

    'Mississippi Grind' directors sign on for 'Captain Marvel'

    As a result, she finds herself with some nifty superpowers like superhuman strength, the ability to fly and energy projection. Variety reports that the movie will be directed by Anna Boden and Ryan Fleck, the directors of Mississippi Grind.
    Oklahoma deputy dies after shooting; suspect arrested

    Oklahoma deputy dies after shooting; suspect arrested

    Authorities say an Oklahoma deputy sheriff was shot and wounded by a suspect who then escaped in the deputy's patrol vehicle . Authorities across Oklahoma were alerted to Leforce's flight and instituted measures like checkpoints and search perimeters.
  • Microsoft globally releases Phone Sign-In for Microsoft Accounts

    Microsoft globally releases Phone Sign-In for Microsoft Accounts

    Now, Microsoft is integrating it with Office 365 (anyone with a Microsoft account can use it) and "an intelligent algorithm". To-Do is a list-making app that allows users to create lists for home, work, groceries, and everything in between.
    Facebook Murder Suspect Fatally Shoots Self In Erie County

    Facebook Murder Suspect Fatally Shoots Self In Erie County

    Stephens, who had no prior criminal record, was not suspected in any other killings, Cleveland officials said . She said even after they parted she was still trying to get him to reach out for help with a gambling habit.
    No, You Won't See President Trump's Tax Returns Anytime Soon

    No, You Won't See President Trump's Tax Returns Anytime Soon

    Registered nurse Pam Craig, of Greensboro, North Carolina, says she'd like to ask Trump how much he "contributed to this country". New York, Washington , Los Angeles and Chicago saw thousands participate in the rallies.
  • After Winning Game 2, The Raptors Aren't Out Of The Woods Yet

    Shortly after that, in Game 2, they improved to 2-0 in the series as they handed Milwaukee a 100-106 loss on April 18. Consider DeRozan, the Raptors leading scorer all season being held without a field goal for an entire playoff game.
    Justice Dept. Threatens to Cut Funding for 9 Major 'Sanctuary' Jurisdictions

    Justice Dept. Threatens to Cut Funding for 9 Major 'Sanctuary' Jurisdictions

    That money go toward law enforcement, prosecution and court programs, according to the Justice Department. Attorney General Jeff Sessions has adopted a hard line on immigration, dating to his time in the U.S.
    Serena Williams confirms her pregnancy

    Serena Williams confirms her pregnancy

    Williams and Alexis Ohanian, an American businessman and a co-founder of Reddit, announced their engagement in late December. She posted a picture on Snapchat with a yellow bathing suit showing off her baby bump, captioned "20 weeks".
  • Mumbai cops register FIR against Hyd man for hoax hijack email

    Mumbai cops register FIR against Hyd man for hoax hijack email

    On April 16, the Mumbai police received an email from an anonymous woman who warned of a possible hijack of flight. Krishna wrote the fake email in an effort to get out of going on a trip with an online girlfriend, police said.
    Oil hits 11-day low on expected surge in US shale output

    Oil hits 11-day low on expected surge in US shale output

    USA drillers last week added rigs for a 13th straight week, bringing it to its highest in roughly two years. The agency's data shows that demand is growing at a constant and regular pace in the oil market.
    Netflix adds fewer-than-expected subscribers

    Netflix adds fewer-than-expected subscribers

    The inclination has presented Netflix with more rivalry in the contest for home entertainment budgets. Netflix will spend more than $1 billion in marketing this year to drive customer acquisitions.

Most liked

Breaking down Mel Kiper's 'Grade: A' mock draft picks for Cardinals
Behind them, the Eagles have Chris Maragos and Jaylen Watkins, both of whom play well on special teams and in spot safety reps. No one's stock dropped more suddenly than Sidney Jones , who suffered a freak injury at Washington's pro day.

Supreme Court bans Jehovah's Witnesses in Russia
It also found the organization had taken no action to change "extremist" literature and had continued to distribute it. Human Rights Watch condemned the Russian Supreme Court's ruling against Jehovah's Witnesses in a statement Thursday.

Samsung Galaxy S8 in pre-order bottleneck
A number of early adopters have reported issues with the phone's screen suffering from a red-tinting problem. Furthermore, Galaxy S8 owners will get some exclusive benefits to using Google Play Music.

One dead, three injured in accident near Kashmere Gate ISBT
The police said that it registered a case at the Kashmere Gate Police Station and added that is continuing to probe the matter. The vehicle had three occupants- all Class XII students - of a top Delhi school, said a senior police officer.

Volkswagen to pay $2.8 billion in US diesel emission scandal
The plea agreement called for "organization probation" in which the company would be overseen by an independent monitor. Volkswagen has pleaded guilty to cheating efforts on emission tests and will pay $4.3 billion.

Patriots 2017 National Football League schedule is released
The pressure is really on the Falcons because their game at New England marks the first of three consecutive road games. This is common, as the reigning Super Bowls champions often get the honor of opening the new season.

Maxine Waters Calls Out Fox News As A 'Sexual Harassment Enterprise'
President Donald Trump on Wednesday supported Fox News host, Bill O'Reilly over his alleged sexual harassment scandal. It could be deeply embedded in her character or maybe her genes, but by now the American people should know Rep.

White nationalist Spencer speaks at Auburn
Spencer, 38, director of the white nationalist think tank National Policy Institute, has been a target for his radical beliefs. Auburn officials cited public safety concerns in trying to stop Spencer from appearing in the student union building.

Google Chrome may get a built-in ad-blocker soon
With its built-in ad blocker, Google reportedly wants to block third-party ad-blockers from getting more popular. In the industry, they call that a "win-win".

International Monetary Fund foresees global economy accelerating to 3.5 pct. in '17
At the same time, adverse weather conditions and civil unrest threaten several low-income countries with starvation. And French auto parts maker Faurecia SA said first-quarter sales rose 9.8% on strong growth in the US and China .

Starbucks Unleashes the Unicorn Frappucino
Unicorns are all the rage this year, and Starbucks has brewed its own creation to take advantage of the phenomenon. It starts as a purple beverage with swirls of blue and a first taste that is sweet and fruity.

Pence warns NKorea 'era of strategic patience is over'
Multiple intelligence sources: U.S. govt "digital interference" (hacking) disrupted North Korea missile launch attempt. The official said that had it been a nuclear test, "other actions would have been taken by the U.S".

Russia: Putin Explained to Tillerson Why Relations Have Deteriorated
It was Assad's first since the alleged April 4 chemical weapons attack prompted a U.S. cruise missile strike on a Syrian air base. Describing the Syrian leader as a "butcher" he said he had "absolutely no doubt" the United States had done the "right thing".

Arkansas prepping for lethal injections despite halt from courts
Bruce Earl Ward and Don William Davis Jr. were scheduled to die Monday night in the first two of eight executions over 11 days. Circuit Court of Appeals that she believes the state court's ruling was based on a misinterpretation of federal law.

Bale ruled out of Champions League game against Bayern
Madrid, seeking its first league title since 2012, has a three-point lead and a game in hand. "The first leg is already over". Bayern have lost eight of their last 10 away games against Real in all competitions (W2), including the last five.