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.
- 3 clam fishermen die off coast of Savary Island when boat capsizes
- Saskatchewan’s hospital safety review expected to cost $1 million
- Saskastchewan Roughriders prepare for first CFL game in Saskatoon in 35 years
- ‘Completely ridiculous’: $547,000 in B.C. government funding for 2 tenants in Vancouver SRO
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.