URS to acquire Scott Wilson

The boards of Scott Wilson Group (SWG-L) and URS Corp. (URS-N) have agreed on a cash offer by Universe Bidco Ltd., a wholly owned subsidiary of URS.

The San Francisco-based engineering, construction and technical services giant is offering 223 million or 290 pence per share for the London-based design and engineering consultancy, which operates in Canada as Scott Wilson Roscoe Postle Associates. The price represents a premium of 233% to the closing price of 87 pence per share on June 4, 2010, the last day before the company entered into an offer period.

Scott Wilson has 80 offices worldwide and more than 5,500 employees.

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