INTERNATIONAL – CONSTRUCTION TAKEOVER
Takeover after months of negotiations ends the independence of one of
Aecom has announced the takeover of Davis Langdon in a deal worth $324M (£203.6m), ending the independence of one of the most established names in the
The deal, which Building first revealed in February, comes after months of negotiation between the two parties.
Under the terms of the agreement, Davis Langdon is expected to receive approximately 80% of the consideration in cash and 20% in AECOM common stock. The deal, which has been approved by Davis Langdon shareholders and partners, is expected to complete in October.
Rob Smith, senior partner in Davis Langdon’s Europe and
Aecom president and chief executive officer John M Dioniso said: “The addition of Davis Langdon to AECOM reflects our continued commitment to execute on ourstated strategy of growth and diversification, especially from a global footprint standpoint.”
The deal follows Aecom’s purchase last month of
AECOM Technology Corporation is a professional technical and management support services firm, head quartered in
Davis Langdon, known globally as Davis Langdon and Seah International, is a construction consultancy firm headquartered in
Back in 1988 I was a young quantity surveyor learning my trade with Davis Belfield & Everest, who merged with Langdon Every & Seah to become Davis Langdon & Everest locally and Davis Langdon & Seah International globally, and were reputed at that time to be the largest quantity surveying firm in the World following the merger – ED