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Tue June 15 2021

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WSP walks away from Sweett

30 Jun 16 Canadian consulting firm WSP has conceded defeat in its bid to take over British quantity surveyor Sweett and declined to get into a bidding war.

Earlier this week Sweett’s board dropped previously agreed plans to join WSP and accepted a higher offer from Currie & Brown instead.

WSP has now said that it will not raise its bid any more than the 35 pence per share that if offered last month. Currie & Brown’s offer is worth 42 pence per share.

“The board of WSP now confirms that its cash offer of 35 pence per Sweett share is final, and that this offer will not be increased,” WSP said in a statement today.

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