Massive global construction and engineering firm AECOM has acquired URS for US$ 4 billion.
The acquisition, at the cost of US$ 56.31 per share, will create one of the largest engineering and construction companies in the world, with more than 95 000 workers across 150 countries, AECOM stated.
According to AECOM it acquired URS to “accelerate AECOM’s strategy of offering an integrated delivery model by adding key capabilities in markets including construction, oil and gas, and power”.
“This combination creates an industry leader with the ability to deliver more capabilities from a broad global platform to reach more clients in more industry end markets,” Michael Burke, AECOM’s CEO, said.
“Clients, employees and stockholders of both companies will benefit from the opportunities created by these expanded capabilities, broad global reach in key growth markets and economies of scale. In one step, we will dramatically accelerate our strategy of creating an integrated delivery platform with superior capabilities to design, build, finance and operate infrastructure assets around the world.”
URS chairman Martin Koffel added that “this is a compelling strategic combination that we believe will benefit our clients, stockholders, and employees”.
In Australia AECOM has worked on the Telfer Deeps mine, the Pluton LNG project, the underground crushing facilities at the Northparkes mine, and upgrade works at BHP’s Port Hedland iron ore export facilities.