AECOM to pay $6 billion for URS Corp engineering firm

Reuters News
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Posted: Jul 13, 2014 1:30 PM

(Reuters) - 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 buyout firms about a potential sale.

(Reporting by Ransdell Pierson; Editing by Cynthia Osterman)