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CORRECTED-AECOM to pay $4 bln for URS Corp engineering firm
July 13, 2014 / 5:30 PM / 3 years ago

CORRECTED-AECOM to pay $4 bln for URS Corp engineering firm

(In first paragraph corrects terms of deal to show $4 billion is being paid in cash and stock)

July 13 (Reuters) - Engineering design firm AECOM Technology Corp on Sunday said it would pay about $4 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. Including assumption of URS debt, the enterprise value of the deal is $6 billion.

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

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