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  • Thursday, April 25, 2024

AECOM Closes $4B Buy of URS Corp. in Energy, Gov’t Services Market Push


NavyConstructionAECOM Technology Corp. (NYSE: ACM) has closed its estimated $4 billion purchase of San Francisco-based engineering and construction services firm URS Corp. after shareholders at URS approved the transaction Thursday.

Los Angeles-based AECOM announced the completion of the deal Friday and said it planned to pursue growth in the oil and gas,  power and government services markets through the acquisition of URS.

The companies disclosed the transaction in July and AECOM will assume URS’ debt as part of the deal, through which AECOM aims to create a combined company with $19 billion in annual revenue.

Holders of URS common stock will receive either $53.99 in cash per share or 1.8879 shares of AECOM common stock and non-electing holders will receive a combination of cash and stock.

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