AECOM buys engineering firm URS for $6 billion

Last Updated: Monday, July 14, 2014 - 11:36

US infrastructure and services group AECOM is buying engineering firm URS Corp. for about $6 billion including debt, creating an industry leader, the companies said in a joint statement Sunday.

Los Angeles-based AECOM offered URS $56.31 per share, or about $4 billion for the San Francisco company, in addition to $2 billion in its debts, the companies said.

The merged company will have a presence in 150 countries and about 95,000 employees, the statement said. It would have calendar year 2013 pro forma sales topping $19 billion.

AECOM believes the tie-up could be more than 25 percent accretive to its cash earnings per share in fiscal year 2015, it added.

The merger, already approved by the two companies` boards, still must be approved by antitrust regulators possibly by October.

AFP
First Published: Monday, July 14, 2014 - 11:36

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