SNC-Lavalin is making the largest transaction in its history after reaching an agreement to purchase British engineeringand project management consultancy WS Atkins PLC for $3.6 billion. The Montreal-based company announced the transaction Thursday, about two weeks after it confirmed making a tentative offer. Founded in 1938, WS Atkins has 18,000 employees and about two billion pounds of annual revenues from activities mainly in the U.K. and Scandinavia, along with the U.S., Middle East and Asia. It will acquire WS Atkins stock for 20.80 pounds per share in cash, subject to approval by shareholders, regulatory and court approval. "This transaction has the potential to transform SNC-Lavalin into one of the leading engineering consulting firms in the world," said la Caisse CEO Michael Sabia in a statement.

Source: CBC News April 21, 2017 01:52 UTC