SNC-Lavalin makes offer to buy WS Atkins

Written by Mischa Wanek-Libman, editor
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SNC-Lavalin has offered to acquire WS Atkins for CA$3.5 billion (US$2.6 billion). The two firms are still in discussions.

SNC-Lavalin issued a statement regarding the potential transaction saying it offered 2,080 pence per WS Atkins share in cash. The offer is subject to many preconditions including the recommendation of the WS Atkins Board.

Should the deal proceed, SNC-Lavalin anticipates that up to CA$1.9 billion (US$1.4 billion) would come from Caisse de dépôt et placement du Québec in the form of CA$400 million (US$299 million) in equity and a $1.5-billion non-recourse loan secured.

United Kingdom takeover code gives SNC-Lavalin until May 1, 2017 to announce that the transaction will or will not be proceeding.

WS Atkins was part of the Denver Transit Partners (DTP) design team responsible for delivering the Eagle public private partnership project. The firm’s role on the DTP team included corridor management and design for the trackway, roadway, and structural elements for portions of the University of Colorado A Line and design for trackway, roadway, drainage, and structural elements of the B Line to Westminster.

SNC-Lavalin has been involved with the Calgary West Light-Rail Extension, is part of the Rideau Transit Group constructing the Ottawa’s Confederation Line and recently won a contract from Purple Line Transit Partners to provide consulting engineering oversight and project management services.

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