Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

Canada's Stantec agrees to buy MWH in $793 million cash deal

Published 2016-03-29, 04:51 p/m
© Reuters. Canada's Stantec agrees to buy MWH in $793 million cash deal
STN
-

TORONTO, March 29 (Reuters) - Canadian engineering firm
Stantec Inc STN.TO said on Tuesday it had agreed to purchase
MWH, a water resources infrastructure company based in Colorado,
for $793 million in cash.
Stantec said the acquisition of MWH, which has 6,800
employees worldwide, would make it a global leader in water
resources infrastructure, increasing its presence in the United
Kingdom, Australia, New Zealand, South and Central America, and
Europe and the Middle East.
"MWH brings a global presence and reputation in water
infrastructure that will advance Stantec's position as a
top-tier design firm within the highly attractive global water
market," said Stantec CEO Bob Gomes.
Stantec said the acquisition would be financed by a
combination of an equity financing and new credit facilities and
is expected to generate annual cost savings of about $25
million.
The deal is subject to the approval of at least two-thirds
of MWH shareholders at a special meeting to be held this month.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.