Elliott Capital Advisors discloses 6.8% stake in WS Atkins
Activist hedge fund Elliott Capital Advisors has taken a 6.8% stake in rail, telecoms and defence engineer WS Atkins.
Atkins (WS)
2,081.00p
16:49 30/06/17
FTSE 250
20,052.33
17:15 02/05/24
FTSE 350
4,492.44
16:49 02/05/24
FTSE All-Share
4,446.15
17:04 02/05/24
Support Services
10,579.64
16:49 02/05/24
The stake was purchased on Friday, when Atkins agreed to be taken over by Canada's SNC-Lavalin for £2.1bn.
Atkins shareholders will each receive 2,080p per share, as offered at the start of the month.
The UK company will not pay any final dividend for the financial year ended 31 March 2017.
If Atkins announces, declares, makes or pays any dividend or other distribution then SNC-Lavalin said it will reduce the offer price by an equal amount. Shareholders will vote at a meeting, with 75% approval needed.
Quebec-headquartered SNC-Lavalin has offices in over 50 countries, providing engineering and construction services to clients in four industry sectors of oil and gas, mining and metallurgy, infrastructure and power.
At 1555 BST, WS Atkins shares were up 0.7% to 2,116p.