Mike Nartker
NS&D Monitor
10/24/2014

AECOM late last week wrapped up its acquisition of URS following approval of the deal by URS shareholders and approval of a stock issuance proposal by AECOM shareholders. “Today is an exciting and historic day–for our industry, for AECOM and URS, and for our nearly 100,000 people around the world who are serving our clients in over 150 countries,” AECOM CEO Michael Burke, who will continue to lead the combined organization, said in an Oct. 17 release. “Beyond the compelling benefits that this transaction creates for our combined clients, stockholders and employees, the combination of AECOM and URS dramatically accelerates our strategy of creating an integrated delivery platform with superior capabilities to design, build, finance and operate infrastructure assets around the world,” Burke said.

AECOM announced in July its intent to purchase URS in a deal estimated to be worth approximately $6 billion. With the deal complete, each share of URS common stock will be exchanged in the merger for per-share consideration of either U.S. $53.991 in cash or 1.8879 shares of AECOM common stock, according to an AECOM release. The combined company is set to have approximately 95,000 employees in 150 countries with 2013 revenues of more than $19 billion. In last week’s release, Burke said the combined organization is “confident” it will achieve a target of $250 million in annual cost synergies.