Sunday20 August 2017

Atkins in £2bn takeover talks with Canadian firm

  • Email
  • Comment
  • Save

Shares soar in major employer of architects after approach from SNC-Lavalin

Shares in Atkins have leapt by 30% since Monday, after the engineering firm – which employs hundreds of architects – confirmed it was in talks with Canadian consultant SNC Lavalin over a possible £2bn takeover.

The Montreal-based firm has made an offer for Atkins – which last year posted revenue of £1.8bn and pre-tax profit of £131.1m – that the UK firm’s board said it was ready to recommend subject to certain conditions being agreed.

According to BD’s latest WA 100 rankings, Atkins employs 369 architects and is 33rd biggest practice in the world.

SNC Lavalin is involved in a range of infrastructure projects across the world, including developments in the North Sea, as well as the Timetable Advistory System for UK railways.


Uwe Krueger, Atkins

Atkins chief executive Uwe Krueger


The Canadian firm turned over C$8.5bn (£5.1bn) in 2016, with 44% of its activity by sales in Canada, and 5% in Europe.

Sector-wise, almost half of the firm’s business is in oil and gas, while it also covers the infrastructure and power sectors.

SNC-Lavalin has until 1 May to make a firm offer.

Atkins chief executive Uwe Krueger said: “There can be no certainty that a firm offer will be made, nor as to the terms on which any firm offer might be made.”


Atkins and SNC Lavalin - how they size up

 AtkinsSNC Lavalin*
Pre-tax profit **£139m£152.7m
Earnings per share107.3p101.6p
Employee numbers18,05235,000

*SNC Lavalin financials translated as C$1.67 = £1

** SNC Lavalin shows net income attributable to shareholders

Year-ends - Atkins: March 2016; SNC Lavalin: December 2016


Have your say

You must sign in to make a comment

sign in register
  • Email
  • Comment
  • Save
Sign in

Email Newsletters

Sign out to login as another user

Desktop Site | Mobile Site