Shard's WSP is snapped up by Canadian rival for £278m
WSP, the engineering consultancy that did the structural design on London's Shard tower, has agreed to be snapped up by Genivar, a smaller Canadian counterpart for C$442m (£278m) in cash.
The 435p-a-share offer for the tall buildings specialist, which has also worked on the Petronas Twin Towers in Kuala Lumpur, represents a 67 per cent premium to WSP's closing share price of 260p on Thursday night. Shares in the company soared by 175p, or 67 per cent, to 435p yesterday, signalling confidence the deal would go through.
WSP, whose projects include structural engineering work on the Freedom Tower project in New York and was involved in revamping Birmingham's Bullring shopping centre, has worked on some of the world's most high-profile building projects.
But it is thought to have come under pressure to sell after a profits warning last June.
- 1 Christmas comes early to Hong Kong, as millions of bank notes spill out onto busy street
- 2 The 'Black Museum': After 150 years, public can visit police’s grisly crime museum
- 3 British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
- 4 Vagina canoe artist facing two years in jail defends herself over ‘obscenity’ charges
- 5 The Queen’s speech 2014: Recap and Twitter reaction to Game of Thrones reference
PlayStation and Xbox hacked by Lizard Squad
Antonio Martin shooting: Black teenager may have tried to ambush patrolman, says police officer's lawyer
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
Boxing Day snowfall set to push even more bargain-hunters online for sales
The 'Black Museum': After 150 years, public can visit police’s grisly crime museum
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
iJobs Money & Business
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...