Aecom completes acquisition of URS

Consultancy Aecom has announced it has completed the acquisition of URS Corporation.

In July, it agreed a deal to acquire the rival company in a £2.3bn deal that would see the creation of a brand new infrastructure and federal services company with over 95,000 employees in 150 countries.

According to Aecom, the acquisition is now complete and comes with broad support from stakeholders following approval of the merger agreement by URS’s stockholders and of the stock issuance proposal by Aecom’s stockholders at each company’s respective special stockholder meetings held on 16 October.

Each share of URS common stock will be exchanged in the merger for per-share consideration of either $53.991 in cash or 1.8879 shares of Aecom common stock.

Michael S. Burke, chief executive at Aecom, said: "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."