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.
Geoffrey Macnab does not like the comedian's big screen debut
Look beyond the usual shows for the best festive telly
The battle for control of Stieg Larsson's £30m legacy
- 1 Sun will 'flip upside down' within weeks, says Nasa
- 2 Christmas comes early: Justin Bieber is 'retiring from music'
- 3 Iain Duncan Smith leaves Commons food banks debate early
- 4 Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
- 5 Burglar steals video tapes of child abuse, hands them into police
- < Previous
- Next >
iJobs Money & Business
£Negotiable: Citifocus: High calibre individual with institutional client serv...
£120000 - £150000 per annum: Cornwallis Elt : Programme Manager, Strategy Lead...
£55000 - £120000 per annum: Pro-Recruitment Group: The Financial Services Tran...
£600 - £700 per day: Harrington Starr: Client based in West London is looking ...