Bus

PBSJ to merge with UK company

Posted on August 2, 2010

The PBSJ Corp. (PBSJ) announced it has entered into a definitive merger agreement by which WS Atkins plc, the world's 11th largest design firm, will acquire PBSJ in an all-cash transaction for $17.137 per share of PBSJ. Atkins is headquartered in the United Kingdom (UK).

The transaction is expected to close in the early fall and is subject to approval by PBSJ's shareholders and standard closing conditions, including regulatory approvals.

Once the transaction has been completed, PBSJ will operate as a national business of Atkins, in the U.S., and will be led by current PBSJ CEO Robert Paulsen, reporting directly to Atkins's chief executive.

PBSJ's Board of Directors unanimously approved the agreement and recommended that PBSJ's shareholders approve the merger.

 

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