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SNC-Lavalin confirms that it has made an approach to Ws Atkins

Staff Writer |
SNC-Lavalin confirmed that it has made an approach to acquire the entire issued and to be issued share capital of WS Atkins at a price of 2,080 pence per WS Atkins share in cash.

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SNC-Lavalin confirms that it is currently in discussions with WS Atkins. A transaction would value WS Atkins at approximately $3.5 billion.

The making of any firm offer would be subject to the satisfaction of a number of pre-conditions including, but not limited to, due diligence to the satisfaction of SNC-Lavalin, and the recommendation of the board of WS Atkins. There can be no certainty that any firm offer will be made.

SNC-Lavalin reserves the right to waive any of the pre-conditions referred to above. SNC-Lavalin also reserves the right to make an offer at any time at a value below the equivalent of 2,080 pence for each WS Atkins share:

- with the agreement and recommendation of the board of Directors of WS Atkins; or

- if a third party announces a firm intention to make an offer for WS Atkins which is recommended by the board of WS Atkins.

SNC-Lavalin will have the right to reduce the offer price by the amount of any dividend (or other distribution) which is paid or becomes payable by WS Atkins to WS Atkins shareholders prior to the completion of any transaction.

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