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Sunday, July 13, 2014

AECOM to pay $6 billion for URS Corp engineering firm, (NYSE: ACM)

Engineering design firm AECOM Technology Corp on Sunday said it would pay about $6 billion in cash and stock to acquire URS Corp, an engineering and construction services company, to create a combined company with about $19 billion in annual sales and more than 95,000 employees. AECCOM, in a release, said it would pay $56.31 in cash and stock for URS, which would represent an 8 percent premium over URS' closing share price on Friday of $52.02.Reuters reported on Friday that URS had held talks with industry rivals and takeover firms about a potential sale.

AECOM Technology Corporation (AECOM) is a provider of professional technical and management support services for commercial and government clients around the world. Shares of ACM traded higher by 0.32% or $0.1/share to $31.76. In the past year, the shares have traded as low as $27.35 and as high as $35.24. On average, 619061 shares of ACM exchange hands on a given day and today's volume is recorded at 641158.