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Takeover in prospect

Atkins shares rocket on £2 billion offer

AtkinsShares in WS Atkins have rocketed by 29.2% to 1990p following a takeover bid from Canada’s SNC-Lavalin Group.

The engineering and consultancy group said the Canadian firm is offering 2080p per share.

It said: “The board of Atkins has indicated to SNC-Lavalin that the possible offer would deliver value to Atkins shareholders at a level that the board would be prepared to recommend, subject to reaching agreement on the other terms and conditions of the offer.”

The Takeover Panel has given SNC-Lavalin until 5pm on 1 May to either announce a firm intention to make an offer for Atkins or walk away.

> Shares in Imagination Technologies plunged 60% after the chip maker lost business with the US giant Apple which uses them in its devices.

Apple is the company’s biggest customer and investors were concerned that it would struggle to replace £65 million of revenue.

Analysts said it may now put Imagination in play.

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