Proposed SWECO-Grontmij Deal To Create $2B Euro Designer
Swedish engineer SWECO on June 1 said it seeks to buy Dutch-based peer Grontmij N.V. to create what it says would be Europe's "leading" design firm, with about $2 billion in total revenue and 14,500 employees.
SWECO's $387.4-million cash-and-stock offer would be a 22% premium over the May 29 stock close for the Dutch firm on the Euronext exchange, says Yuri Lynk, construction-sector analyst for Canaccord Genuity Corp., Montreal.