After rejecting three acquisition offers from Dubai-based AE consolidator Sidara, formerly Dar Group, energy-industrial services firm agrees to talks related to latest sweetened bid.
Purchase of Asia-Pacific assets of Perth contractor Clough “guarantees the continuity" of firm projects and employment for 1,100 employees, says the Italy-based buyer.
In ENR interview, CEO Troy Rudd says that even with construction units shed, the design firm has size, scale and tech value to tackle climate change and workforce demands
Analysts note design firm's parallel sale and spinoff plans, but shedding construction assets will take longer. Activist investor was key sale catalyst, reports say.
US engineer's board rejects the London-based giant's bid, which would require halting a planned buy of CB&I, but the offer may rise. One analyst is not keen on the counter offer.
An April 3 bid by Canada-based global design giant SNC-Lavalin to buy U.K. engineer Atkins, valued at $2.6 billion, has been confirmed by both firms’ boards and further indicates a resurgence in industry sector consolidation, observers say.
