Atkins confirms possible offer from SNC-Lavalin
WS Atkins has received a cash takeover offer from Canadian rival SNC-Lavalin at a price of 2,080p per share, which valued the engineer at £2.1bn.
Atkins (WS)
2,081.00p
16:49 30/06/17
FTSE 250
20,900.08
17:14 04/10/24
FTSE 350
4,570.17
17:14 04/10/24
FTSE All-Share
4,527.24
16:54 04/10/24
Support Services
11,327.53
17:14 04/10/24
Atkins' board said the possible offer "would deliver value to Atkins shareholders at a level that the Board would be prepared to recommend", if it can agree the terms and conditions of a deal.
Following a 29% spike in the shares on Monday afternoon, the FTSE 250 company put out a statement, confirming it was in discussions with Lavalin about the terms and conditions of a deal, which remained conditional on due diligence and financing.
There can be no certainty that a firm offer will be made, Atkins said, nor the terms on which any firm offer might be made.
Quebec-headquartered SNC-Lavalin has offices in over 50 countries, providing engineering and construction services to clients in four industry sectors of oil and gas, mining and metallurgy, infrastructure and power.