AECOM acquired URS Corporation for Approximately $6 billion enterprise value (~$4 billion equity; $56.31 per URS share), a transaction completed in October 2014, structured as combination.
URS Corporation operates in Engineering, construction & federal services, is based in San Francisco, California, USA (global operations). URS Corporation was a San Francisco-based engineering, construction and technical-services firm with strong positions in oil & gas, power, government services and infrastructure. AECOM acquired all outstanding URS shares in a cash-and-stock merger that valued URS equity at roughly US$4 billion, or about US$56.31 per share, and carried a total enterprise value of approximately US$6 billion including assumed debt. URS holders could elect US$53.991 in cash or 1.8879 AECOM shares per share. The combination created a fully integrated infrastructure and federal-services provider with more than 95,000 employees across 150 countries and roughly US$19 billion in 2013 pro forma revenue.
Accelerates AECOM's strategy of offering an integrated-delivery model by adding key capabilities and expertise in markets including construction, oil & gas, power and government services.
Targeted approximately US$250 million in annual cost-saving synergies, substantially achieved by the end of fiscal year 2016
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. 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.Michael S. Burke, Chief Executive Officer, AECOM
Advisory firms were not disclosed for this transaction.