Arcadis to complete Hyder takeover next month

Aaron Morby 10 years ago
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Consulting engineer Hyder has written to shareholders setting out the timetable for its takeover by Dutch consulting giant Arcadis.

Arcadis proposes to close the deal by 16 October, providing its Japanese bidding rival Nippon Koei doesn’t trump its 730p a share offer at the last minute.

Hyder published a timetable for closing the deal with Arcadis today.

This proposes a general meeting for shareholders to vote on the recommended Arcadis offer on 25 September.

If the deal is approved, Hyder shares will suspend trading on the London stock exchange on 15 October, prior to the deal closing the following day.

Arcadis has said the enlarged super-consultant benefit from significant revenue and cost synergies including savings through the use of global design excellence centres.

Hyder currently employs 4,000 staff globally while Arcadis has 22,000.

The deal shadows rival global consultancy AECOM’s acquisition of rival URS for £2.3bn last July.

A steering committee, jointly led by Ivor Catto, CEO of Hyder, and Stephan Ritter, Arcadis executive board member will detail how best to combine the two businesses.

Neil McArthur, chief executive officer of Arcadis said: “Hyder is a unique company with a long history of being involved in the leading edge of design and engineering.

“The geographic coverage and capabilities of the two businesses are highly complementary.

“In the UK, Germany, Middle East and Asia, Hyder’s design and engineering services fully complement Arcadis’ design, consultancy and project management services.

“While Hyder’s presence in Australia creates a platform to provide the full range of Arcadis capabilities.”

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