Shares of Australia-based WorleyParsons rose 32% on Feb. 28, following the firm’s disclosure the day before that, last November, Dubai-based engineer conglomerate Dar Group had made an estimated $2.2- billion bid, which it rejected as undervalued.
The Federal Energy Regulatory Commission on Jan. 25 granted a permit for Spectra Energy’s proposed Atlantic Bridge pipeline, a $450-million project set to expand natural-gas transport from the Marcellus shale region into New England and Canada.
Acquisition transactions in the engineering sector last year had a double-digit falloff to the lowest level since 2013 and the sharpest decline rate since the recession, according to a new analysis by one sector consultant and deal broker.