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BRIEF-Snc-Lavalin confirms its approach to buy WS Atkins for 2,080 pence per share

Published 2017-04-03, 01:49 p/m
© Reuters. BRIEF-Snc-Lavalin confirms its approach to buy WS Atkins for 2,080 pence per share
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April 3 (Reuters) - Snc-Lavalin Group Inc SNC.TO :

* Snc-Lavalin confirms that it has made an approach to WS Atkins

* A transaction would value WS Atkins at approximately $3.5 billion

* Confirms it has made approach to buy entire issued & to be issued share capital of Atkins at 2,080 pence per WS Atkins share in cash

* Confirms that it is currently in discussions with WS Atkins

* If transaction was to proceed, it is currently contemplated that up to $1.9 billion will come from Caisse de dépôt et placement du Québec

* Does not currently expect total equity portion of financing, including any equity from CDPQ, to exceed one third of total consideration

* Will have right to reduce offer price by dividend amount paid/becomes payable by WS Atkins to WS Atkins shareholders before completion of deal Source text for Eikon: Further company coverage: SNC.TO

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