WSP Global Inc. is giving up its effort to buy British consulting firm RPS Group plc.
The Montreal-based company says it will not be revising its offer for the company in the face of a rival offer by Tetra Tech Inc.
WSP had announced a deal in August to buy RPS, which focuses on climate change and energy consulting, for 206 pence per share or about 591.1 million pounds.
However, Tetra Tech topped the offer with a bid of 222 pence per share or about 636 million pounds.
- Toronto police seek suspect in possible hate-motivated assault with Orbeez-type gun
- Canadians may be impacted as Spirit Airlines shuts down operations ‘effective immediately’
- Carney says his stance on Iran war shifted as Trump’s goals ‘evolved’
- Carney’s trip to Armenia happening as Ottawa’s foreign policy aims shift, expert says
Get breaking National news
WSP says it “continues to value a disciplined approach to acquisitions to maximize shareholder value.”
It says it remains confident in its ability “to capture future opportunities and deliver on its strategic ambitions.”
This report by The Canadian Press was first published Oct. 11, 2022.
Comments
Want to discuss? Please read our Commenting Policy first.