Jacobs ‘in talks’ to buy CH2M

Parliament in London

July 26, 2017 – US engineering firm Jacobs is said to be in talks to acquire its smaller rival CH2M.

The Dallas-based company is keen to expand its UK presence, and CH2M has had involvement in London’s US$5.5 billion Thames Tideway Tunnel and the US$5.2 billion restoration of the UK capital’s Houses of Parliament.

Although neither firm has commented on the rumour, it is reported that the price for CH2M could be around US$1.5 billion – having been reduced due to the firm’s recent loss of its contract on London’s high-speed rail system, HS2.

Jacobs reported revenue of US$10.9 billion in 2016, and employees around 54,000 staff worldwide.

CH2M reported revenue in 2016, slightly down from the previous year, but is also facing liabilities on contracts, including a major toll road project in Texas.

Source:- https://www.khl.com/international-construction/jacobs-in-talks-to-buy-ch2m/128271.article


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