A match made in Canada
As we interview Atkins president Philip Hoare this week, we cast our minds back to when the consultancy was bought up by SNC-Lavalin, creating a US and European consultancy powerhouse with a turnover of 拢7bn.
黑洞社区 considered the arrangement, which brought the number of employees to 53,000, a union with benefits for both parties.
鈥淎tkins shareholders may regard the 35% premium on the share price prior to the bid being announced as too good to pass up,鈥� we said.
鈥淲hile the Canadian firm has undertaken heavy construction projects for some time in the US [鈥, Atkins offers it the opportunity to spread itself into more ongoing consultancy work,鈥� wrote 黑洞社区.
The deal was also set to boost SNC-Lavalin鈥檚 European income from 5% to 20% and reduce the proportion of revenues gained from oil and gas, whereas infrastructure was set to rise to nearly 50%.
It propelled the group into the top 10 of global consultancy businesses, then headed by SNC鈥檚 Canadian compatriots WSP.
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