URS makes a giant deal |
| San Francisco Chronicle - May 29, 2007 |
Engineering giant URS Corp. said Monday that it will spend $2.6 billion in cash and stock to buy Washington Group International, a worldwide construction company that decades ago helped build the Bay Bridge.
The deal will give San Francisco's URS added expertise in construction and nuclear engineering, as governments around the globe show renewed interest in building nuclear plants. The combined company, whose headquarters will remain in the Transamerica Pyramid, will have 54,000 employees and annual revenue of $8.6 billion.
"We think this is the next logical step for us," said Martin Koffel, chief executive officer of URS, in an interview Monday. "Our industry is a human capital business, and you grow by buying talent."
Read Full Article from San Francisco Chronicle
- Posted: 2007-05-29 10:09:16
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