Los Angeles-based engineering firm AECOM Technology Corp. announced plans to buy URS Corp. for a combination of cash and stock valued at approximately $4 billion dollars or $56.31 per share, with a total value of approximately $6 billion.
The combined company will be a leading, fully integrated infrastructure and federal services provider with more than 95,000 employees in 150 countries. It would have calendar year 2013 pro forma revenues of more than $19 billion and EBITDA of approximately $1.3 billion.
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“This combination creates an industry leader with the ability to deliver more capabilities from a broad global platform to reach more clients in more industry end markets,” said Michael S. Burke, AECOM president/CEO.
Martin M. Koffel, chairman/CEO of URS, stated, “Our two businesses are complementary, and our cultures are highly compatible. We anticipate that employees from the combined company will benefit as the organization integrates its leadership talent and capitalizes on its greater scale to invest in its people, improve their career opportunities and advance their capacity to compete globally.”