Japanese engineering consultant Nippon Koei Co., Ltd Friday said it will acquire UK peer Hyder Consulting plc (HYC.L) for 680 pence per share in cash in a transaction valued at 268.1 million pounds.
The purchase price represents a premium of 5.4 percent over the 645 pence closing price of Hyder’s shares on August 7. The transaction will be funded by a new acquisition facility from Bank of Tokyo-Mitsubishi UFJ, Ltd.
Hyder will be acquired by Nippon Koei Co., Ltd’s unit Nippon Koei UK Topco Ltd. Hyder will be a standalone division and Nippon Koei does expect any cost synergies from the acquisition.
Hyder said the Nippon Koei’s cash offer is superior to the ARCADIS’ offer announced on July 31, and that the board is recommending the Nippon Koei offer.
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by RTT Staff Writer
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The post Nippon Koei To Acquire Hyder Consulting In GBP 268.1 Mln Deal – Quick Facts – RTT News appeared first on Evan Vitale Consulting Blog.
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