Aecom Technology (NYSE:ACM) has agreed to acquire rival URS for $4B in cash and shares, forming a company with roughly double the amount of turnover than the next closest competitor in the industry. Aecom is already the world’s largest engineering design company by revenue.
URS shareholders will receive $33 in cash and 0.734 of an Aecom share for each URS share they hold. URS shares have had a chaotic last few months, dropping below $45 this June from $55 last September. Shares started to then climb a few weeks ago due to M&A speculation.