URS Corporation (URS) Completes Acquisition of Flint Energy Services for $1.24 Billion; Deal Accretive to 2012
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URS Corporation (NYSE: URS) and Flint Energy Services Ltd. (TSX: FES) announced today that URS has completed its acquisition of Flint.
Under the terms of the definitive agreement announced in February, Flint shareholders received C$25.00 per share in cash for each Flint share. The total equity value paid by URS was approximately C$1.24 billion (US$1.24 billion).
The transaction is expected to be accretive to URS' 2012 earnings, and to substantially increase URS' revenues from the oil and gas sector.
Under the terms of the definitive agreement announced in February, Flint shareholders received C$25.00 per share in cash for each Flint share. The total equity value paid by URS was approximately C$1.24 billion (US$1.24 billion).
The transaction is expected to be accretive to URS' 2012 earnings, and to substantially increase URS' revenues from the oil and gas sector.
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