CALIFORNIA – Engineering design firm Aecom Technology Corp. has offered US$4 billion in cash and stock to acquire URS Corp., an engineering and construction services company. Aecom has offered the equivalent of US$56.31 per URS share, based on the Aecom closing price on July 11, 2014.
The combined company would have annual sales of about US$19 billion and more than 95,000 employees.
Aecom said the merger will create a premier, fully integrated infrastructure firm to serve clients in a wide variety of sectors, including environmental, energy, water, transportation and government. The combined company would realize cost savings of US$250 per year, nearly all of which will be achieved by the end of fiscal 2016.
Michael S. Burke will be the combined company’s chief executive officer, and the companies have designed a new operating management structure that will include proven senior leaders from both URS and Aecom. John M. Dionisio, Aecom executive chairman, will be chairman of the board and, at closing, Aecom will elect two URS members to the Aecom board.
Visit Aecom.com to learn more or follow Aecom on Twitter.
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