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Atkins shareholders agree to Canadian takeover

27 Jun 17 Shareholders of WS Atkins have approved the company’s £2.1bn takeover by Canadian engineering firm SNC-Lavalin.

The board of Atkins supported SNC Lavalin’s takeover offer from the outset. Enough shareholders have now voted in favour to enable the deal to go through.

Of the votes cast at an Atkins shareholder meeting yesterday, 97.4% in favour of the Canadian takeover. The turnout was 52.8% of the shareholding.

The purchase price of 2080 pence per share represents a premium of approximately 35% to the closing price of 1540 pence on 31st March 2017, when news of a possible offer broke, and is 44% above Atkins’ average share price for the year to 31st March 2017.

The WS Atkins board said that it would now apply for a suspension of share dealing on the London Stock Exchange, which is expected to take pace at 6pm on 30th June 2017, with share being de-listed at 8am on 4th July.

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