Road Guy
Well-known member
In another decade there may just be 2 or 3 "big firms" left...
& with all these big acquisitions I havent really seen the smaller - mid size firms increasing to fill the void..
http://www.bloomberg.com/news/2014-07-13/aecom-technology-agrees-to-buy-urs-for-about-4-billion.html
Aecom Technology Corp. (ACM) agreed to acquire URS Corp. (URS), the engineering and construction-management company targeted by activist hedge fund Jana Partners LLC, for about $4 billion, gaining new services in markets like oil and gas.
Aecom will pay the equivalent of $56.31 a share for URS in the cash-and-stock deal, or about 19 percent more than its 30-day average closing price, the companies said in a statement yesterday. Including debt, the value of the transaction would be about $6 billion. The per-share price is about 8.2 percent more than URS’s July 11 close.
The transaction brings together companies that provide support and planning services for governments and large engineering and construction projects in the U.S., Canada and other countries. It will combine Aecom’s reach overseas with URS’s services such as pipeline repair.
“You couldn’t have had a better marriage of two companies that complement each other’s skill sets, scope and capabilities so well,” said Will Gabrielski, an analyst at Stephens Inc. in New York.
“They both have the federal government as a large customer, but there is very little overlap in what they do,” he said. “It’s a great value for both companies.”
Photographer: Andrew Harrer/Bloomberg
“The days when our clients would hire three or four engineering firm is over,” URS Corp. CEO Martin Koffel said on today’s conference call. “It’s one-stop shopping.” Close
“The days when our clients would hire three or four engineering firm is over,” URS... Read More
Gabrielski rates the shares overweight. Aecom shares rose 3.9 percent in New York to $32.99 at 10:17 in New York and URS increased 9 percent to $56.71.
& with all these big acquisitions I havent really seen the smaller - mid size firms increasing to fill the void..
http://www.bloomberg.com/news/2014-07-13/aecom-technology-agrees-to-buy-urs-for-about-4-billion.html
Aecom Technology Corp. (ACM) agreed to acquire URS Corp. (URS), the engineering and construction-management company targeted by activist hedge fund Jana Partners LLC, for about $4 billion, gaining new services in markets like oil and gas.
Aecom will pay the equivalent of $56.31 a share for URS in the cash-and-stock deal, or about 19 percent more than its 30-day average closing price, the companies said in a statement yesterday. Including debt, the value of the transaction would be about $6 billion. The per-share price is about 8.2 percent more than URS’s July 11 close.
The transaction brings together companies that provide support and planning services for governments and large engineering and construction projects in the U.S., Canada and other countries. It will combine Aecom’s reach overseas with URS’s services such as pipeline repair.
“You couldn’t have had a better marriage of two companies that complement each other’s skill sets, scope and capabilities so well,” said Will Gabrielski, an analyst at Stephens Inc. in New York.
“They both have the federal government as a large customer, but there is very little overlap in what they do,” he said. “It’s a great value for both companies.”
Photographer: Andrew Harrer/Bloomberg
“The days when our clients would hire three or four engineering firm is over,” URS Corp. CEO Martin Koffel said on today’s conference call. “It’s one-stop shopping.” Close
“The days when our clients would hire three or four engineering firm is over,” URS... Read More
Gabrielski rates the shares overweight. Aecom shares rose 3.9 percent in New York to $32.99 at 10:17 in New York and URS increased 9 percent to $56.71.
