Environmental consulting firm RPS has become the latest London-listed company to fall victim to a US takeover – as the pound’s weakness attracts overseas predators.
RPS has struck a deal valuing it at £636m with Tetra Tech, a California-based engineering firm.
Takeover: RPS has struck a deal valuing it at £636m with Tetra Tech, a California-based engineering firm
Tetra Tech’s 222p a share offer trumps a previously-agreed offer from Canadian outfit WSP Global, which worked on the building of the Shard office block in London, at 206p a share.
RPS Group is based in Abingdon, Oxfordshire, and employs around 5,000 people in 125 countries.
It advises the property, energy and water industries on environmental issues.
Chief executive John Douglas said: ‘Joining Tetra Tech represents a highly attractive combination of two leading companies in the industry for our clients.’