Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, June 23, 2014

Canada's SNC-Lavalin to purchase UK's Kentz for $2 bln, (TSE: SNC.TO)

SNC-Lavalin Group Inc, Canada's largest engineering and construction company, said it would purchase British energy services provider Kentz Corp Ltd for about 1.164 billion pounds ($1.98 billion) in cash. SNC-Lavalin said each Kentz shareholder will receive 935 pence per share, a premium of 33 percent to Kentz's Friday close on the London Stock Exchange.

SNC-Lavalin Group Inc. (SNC-Lavalin) is an international engineering and construction company. Shares of SNC fell by 1.0% or $-0.53/share to $52.40. In the past year, the shares have traded as low as $39.47 and as high as $55.44. On average, 406416 shares of SNC.TO exchange hands on a given day and today's volume is recorded at 1002185.