WSP Global Inc. is moving ahead with its acquisition of rival engineering services firm AECOM, as reported by Bloomberg. AECOM: a public corporation/conglomeration whose sole function is to extract as much economy of scale as possible out of construction engineering professions with little regard for the independence, growth, and success of employees and local economies. If you don't see it please check your junk folder. At the time of the announcement, WSP U.S. president and CEO Lou Cornell said that the transaction would enable the firm to "fulfill its strategic ambition of enhancing our activities in the United States.". Lots of people from our office were relocated, I left before I could be let go. As the business turns 21, Julie explores their decision to make 2021 the Year of Giving, and why you should too. WSP announced earlier this week that it is selling more than 5 million shares of its stock in order to raise 437 million Canadian dollars ($323 million), partly to "fund potential future acquisition opportunities.". Civil engineering: Building and maintaining infrastructure. UPDATE: June 3, 2020: Although recent media reports indicated that the COVID-19 pandemic had quashed talks between AECOM and WSP Global, a deal might still be on the table. IMO the discription of being a number in large corporation is pretty accurate and if your okay with being a cog and cracking on it may be a decent move. In January 2020, Bloomberg reported that LA-based AECOM had been approached by WSP regarding a deal, but no official comments have been released. After that everything resumed like it normally would. New comments cannot be posted and votes cannot be cast, More posts from the civilengineering community. Los Angeles-based construction and engineering giant AECOM is in talks with Canadian firm WSP Global Inc. about a possible deal, Bloomberg reported Monday night. Ninja edit: as far as the employee experience, not sure much would change. I doubt the same is happening between WSP and AECOM. WSP Global's U.S. shares traded at $71.20, up 0.8%. I currently work in AECOM and I honestly don't understand negative comments being mentioned here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eanwhile, WSP's acquisitions of U.S.-based construction and engineering firms go back several years. Representatives for Los Angeles-based Aecom and Montreal-based WSP didn’t immediately respond to requests for comment. Although there is no guarantee that the talks will lead to a deal or how a deal would play out, analyst Andrew Wittmann said in a written research report that he believes the discussions "likely have some merit" for several reasons, including the fact that WSP's stated goals include acquisitive growth, that AECOM stock has inexplicably climbed in recent days and that AECOM leadership is currently transitioning. Representatives for Los Angeles-based Aecom and Montreal-based WSP didn’t immediately respond to requests for comment. Bloomberg’s sources claim that “a deal could be announced as soon as next week”. Plus a wealth of knowledge and experience within each team, which you'll find you work more closely with rather than independently . The stock has climbed 71% over the past year. WSP Global approaches engineering firm Aecom about possible deal Back to video Aecom shares opened up 4 per cent Tuesday, valuing the company at about US$7.7 billion. Bloomberg reported that shares of AECOM rose 7.7% to $51.33 at 10:14 a.m. in New York trading on Wednesday 4 March, giving the company a market capitalisation of about $8.1 billion. WSP fell 0.4 per centto $93.22 apiece in Toronto, giving the company a market value of about $9.9 billion (US$7.6 billion). Perhaps it's time that the civil engineering field start to unionize? Company leaders said they would review the letter, Ecology and Environment Inc., a 775-employee, publicly traded company that. The $2.4 billion sale of AECOM's Management Services business to two private equity firms is expected to close in the first quarter of 2020, and the. The biggest casualties of mergers like this are non-billable staff (accountants, IT, HR, etc), The biggest casualty is the concept of "billable hours.". Aecom shares opened up 4% Tuesday, valuing the company at about $7.7 billion. WSP has been growing recently with other high profile acquisitions. C&M announced on their website: “We have recently become a wholly owned... Rinnai is gearing all its operations, products and services to the delivery needs of all healthcare, foodservice, commercial and industrial sectors as planning starts for the coming winter. If they acquire so you'd be a part of WSP. It was widely reported in early August that the multinational engineering firm was... An updated guide on sustainability, published by CIBSE, puts engineers at the heart of building better performing, sustainable buildings. The new date for the cleaning and hygiene show is, as yet, unknown. The awards include: Graduate of the Year, Employer of the Year and... As the CEO steps down, AECOM is also cutting up to 500 jobs in the UK and Ireland. There’s no guarantee that the overture will lead to a transaction, said the people, who asked to not be identified because the matter isn’t public. WSP Global Inc. is a Canadian business providing management and consultancy services to the built and natural environment. © 2020 Financial Post, a division of Postmedia Network Inc. All rights reserved. The $65 million deal included a special dividend of approximately $2.2 million, according to a press statement. Today more than ever, it’s necessary to measure and analyze data and trends in real-time. It all over the world. AECOM stock surged to a three-month high on WSP's announcement. ProjectReady Releases 3.2 - Adding Submittals, Comprehensive Search & more to its growing li... Hilti unveils BIM-enabled construction robot for mobile ceiling work, Las Vegas construction market takes a hit from COVID-19, Black & Veatch leaving coal projects in the dust. Nov 18 – Dec 9, 2020, WSP Approaches Engineering Firm Aecom About Deal, Latest Developments in Construction Megaprojects, 5 Tech Questions Every Contractor Needs to Answer to Future-Proof Business, Steering a Path to Growth During an Uncertain Economy, Hubbell Lighting Introduces SpectraClean™ 254 Germicidal Lighting Solutions, A 5-story building in China 'walks' to new location, A201 General Conditions: Administering the Contract for Construction, BIM for construction: The right tool for large infrastructure projects, [Toolkit] Empowering your construction in times of crisis. The trend of these growing large publicly traded companies is just bad for the US working force in general, but since congress is OK with selling out the public interest to these large corporations and their demand to boost stock price above all else, even if by only pennies, we are all fucked. UPDATE: March 6, 2020: Bloomberg News has reported that the deal it had previously heard rumored, between Los Angeles-based AECOM and Montreal engineering services firm WSP, could happen next week. Aecom’s services include consulting, planning, architecture, engineering and construction management, according to its website. Click Image To Read More, With the country under a tiered system of local lockdowns, what can we learn three months into these measures? The guide is intended to... United Capital completes its largest deal to date as they acquire national central heating and electrical services firm, Saltire Facilities Management. Hasn’t sounded like that’s been the case in either of these firms previous acquisitions. It doesn't appear in any feeds, and anyone with a direct link to it will see a message like this one. The free newsletter covering the top industry headlines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ohn Redding | Newcastle upon Tyne, Northumberland, United Kingdom | Associate Director at WSP | 500+ connections | See John's complete profile on Linkedin and connect But AECOM’s revenues were more than triple those of WSP last year, and AECOM has about 100,000 employees, nearly twice the size of WSP’s workforce. AECOM is a multinational engineering firm with approximately 87,000 employees, and is number 157 on the 2019 Fortune 500 list. CBRE has purchased Mainstream Software Incorporated after using the firm's products within its Global Workplace Solutions business. Of course, it's also really hard to compete against these super firms when it comes to large projects since the amount of staff and resources they are able to supply is unmatchable. Separately, Baird analyst Andrew Witmann said Aecom could be valued in the mid-to-high $50-per-share range in a deal. Click Image To Read More, Rinnai is introducing the Nexus scale conditioner system, an independently tested and proven galvanic and electrolytic water treatment solution in a self-cleaning package. Source: Global Construction Review WSP: Rumours circulate of merger between WSP and Aecom Canadian engineer WSP has approached Los Angeles rival Aecom to discuss a … WSP is part of LaGuardia Gateway Partners, the team designing and building the $3.6 billion Central Terminal B at LaGuardia Airport in New York City, one of the largest public-private partnerships (P3) currently undertaken in the U.S. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. https://labusinessjournal.com/news/2020/jan/24/aecom-wsp-global-deal/. Company leaders said they would review the letter. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Cookies help us deliver our Services. WSP Approaches Engineering Firm Aecom About Deal, tap here to see other videos from our team. AECOM did not respond to Construction Dive’s request for comment.

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