Jacobs Engineering Group To Acquire Wood's Nuclear Business For $300M

Jacobs Engineering Group Inc JEC will acquire John Wood Group's Nuclear business for $300 million on a debt-free, cash-free basis.

The business has approximately $285 million of expected 2019 revenue and over 2,000 employees. Jacobs expects to close the deal by its fiscal 2020 second quarter.

"This acquisition further strengthens Jacobs' position in highly profitable and complementary sectors within nuclear and defense, enhancing our recognized program management skills with deep, technical expertise," said Jacobs CEO Steve Demetriou. "Given the compelling and synergistic fit of our two organizations, we believe this transaction will translate into significant value for Jacobs' shareholders, diverse opportunities for our employees and new, differentiated nuclear and defense solutions for our clients."

On Tuesday, Jacobs shares were trading down 0.26% at $83.82 during the time of publication. The stock has a 52-week high of $86.43 and a 52-week low of $55.17.

Related Links:

Elanco To Acquire Bayer's Animal Health Business For $7.6B

Microsoft Acquires jClarity To Bolster Azure's Java Team

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: M&ANews
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!