In August the board of stock exchange listed RPS (formerly Rural Planning Services) approved a £625.9m takeover bid by Canadian firm WSP – at 206 pence per share.
Six weeks later US-owned Tetra Tech UK Holdings (formerly White Young Green) offered £636m for RPS – 222 pence per share – prompting the RPS board to drop its recommendation for shareholders to back the WSP offer and ask them to support Tetra Tech’s offer instead.
That was two weeks ago.
Today, WSP said that, having considered its options, it would not be raising its bid and its previous 206 pence per share was its final offer. The offer expires a week from today, on 18th October 2022.
“WSP Global continues to value a disciplined approach to acquisitions to maximise shareholder value,” the WSP board said. “With a strong balance sheet, WSP Global remains confident on its ability to capture opportunities and execute on its strategic ambitions.”
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