SNC-Lavalin Agrees to Buy WS Atkins for

Sarla Buch
21 Apr, 2017
New York City

Adesso reaffirmed fiscal 2017 outlook. WS Atkins agreed to be acquired by Canada-based rival SNC-Lavalin for

[R]4:00 PM Frankfurt – Adesso reaffirmed fiscal 2017 outlook. WS Atkins agreed to be acquired by Canada-based rival SNC-Lavalin for £2.1 billion. Danone said revenues rose 3%. Pernod Ricard revenues soared 7%. Reckitt Benckiser sales surged 15%.[/R]

In London trading, FTSE 100 index edged up 1.13 to 7,119.69 and in Frankfurt the DAX index increased 41.95 or 0.4% to 12,069.22.

In Paris, CAC 40 index slipped 11.61 or 0.2% to 5,066.30.

For the week, FTSE 100 index declined 3.1%, the DAX index slumped 1.3% and the CAC 40 index decreased 1.4%.

Adesso AG advanced 2.6% to €51.26 after the Germany-based information technology service provider said revenues in the fourth-quarter increased 33% from a year ago to €260.4 million.

Profit in the quarter soared 61% from a year ago to €23 million from €14.3 million and earnings per share jumped to €2.14 from €0.82.

The software services provider reaffirmed revenue growth in fiscal 2017 in the range of €270 million to €300 million and operating profit to increase to between €23 million and €27 million.

WS Atkins Plc jumped 5.1% to 2,082.15 pence after the U.K.-based engineering and consultancy services provider agreed to be acquired by Canada-based rival SNC-Lavalin Group Inc for 2,080 pence or $26.66 per share in cash or approx £2.08 billion or $2.69 billion.

SNC said the transaction is expected to close in the third-quarter of 2017.

Danone SA slumped 2.1% to €62.39 after France-based dairy and nutrition products maker said revenue in the first-quarter ending in March increased 3% from a year ago to €5.5 billion.

Comparable sales in the quarter rose 0.7%.

The dairy and nutrition products maker said revenues in the fresh dairy products business increased 2.4% to €2.7 billion and revenues in early life nutrition business jumped 4.8% to €1.3 billion.

Danone lifted earnings per share forecast in fiscal 2017 to a double-digit growth at constant exchange rate from the reported earnings per share of €3.10 in 2016.

Pernod Ricard SA edged up 0.04% to €114.55 after France-based wines, spirits and liqueurs maker reported sales in the third-quarter surged 7% from a year ago to €1.99 billion and sales in the nine-month ending in March jumped 4% to €7.1 billion.

Reckitt Benckiser Group Plc slipped 1.7% to 7,148.56 pence after the U.K.-based consumer goods maker said total revenues in the first-quarter ending in March soared 15% to £2.6 billion.

The hygiene products maker said acquisition of Mead Johnson, baby products maker, for about £12.95 billion or $16.6 billion announced in February is expected to complete by the end of third-quarter.

Software AG surged 9.7% to €39.53 after the Germany-based information technology service provider stated revenues in the first-quarter ending in March were flat from a year ago at €205.9 million.

Net income in the quarter declined 4% from a year ago to €37.3 million from €38.7 million and diluted earnings per share decreased to €0.49 from €0.51.