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United States : AECOM acquires engineering firm URS CORP. under $6 billion deal

July 14, 2014

US infrastructure and services group AECOM is to acquire engineering firm URS Corp., based in San Francisco, in a deal worth $6 billion which also includes debt.

According to AECOM, it offered URS $56.31 per share (about $4 billion) for the company, in addition to $2 billion in its debts.

The merged firm will carry out operations in 150 countries, with an employee base of 95,000 people and would have calendar year 2013 pro forma sales topping $19 billion.

AECOM expects the merger could be more than 25 percent accretive to its cash earnings per share in fiscal year 2015.

The merger has already received approval from board of both the companies, and awaits approval from antitrust regulators which is expected by October.

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Source: TendersInfo (India)

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