Edmonton, Alberta-based global engineer Stantec intends to boost its environmental and public sector niches with a proposed $500-million acquisition of key units of Australian engineer-consultant Cardno Ltd.
Under the Oct. 21-announced transaction that is set to close by mid-December with approvals of regulators and a Dec. 6 vote by Cardno shareholders, Stantec would buy its consulting units in North America and the Asia-Pacific region. The two firms have previously collaborated on projects.