Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • Bitcoin USD

    64,488.19
    +924.34 (+1.45%)
     

  • CMC Crypto 200

    1,388.11
    +75.48 (+6.11%)
     

  • S&P 500

    4,985.70
    -25.42 (-0.51%)
     

  • Dow

    37,945.27
    +169.89 (+0.45%)
     

  • Nasdaq

    15,393.09
    -208.41 (-1.34%)
     

  • Gold

    2,408.80
    +10.80 (+0.45%)
     

  • Crude Oil

    83.18
    +0.45 (+0.54%)
     

  • 10-Yr Bond

    4.6060
    -0.0410 (-0.88%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

AECOM to pay $4 billion for URS Corp engineering firm

Reuters

(Reuters) - Engineering design firm AECOM Technology Corp (ACM.N) on Sunday said it would pay about $4 billion (2.33 billion pounds) in cash and stock to acquire URS Corp (URS.N), an engineering and construction services company, to create a combined company with about $19 billion in annual sales and more than 95,000 employees.

AECCOM, in a release, said it would pay $56.31 in cash and stock for URS, which would represent an 8 percent premium over URS' closing share price on Friday of $52.02. Including assumption of URS debt, the enterprise value of the deal is $6 billion.

Reuters reported on Friday that URS had held talks with industry rivals and buyout firms about a potential sale.

(In first paragraph corrects terms of deal to show $4 billion is being paid in cash and stock)

(Reporting by Ransdell Pierson; Editing by Cynthia Osterman)