Shares in Hyder Consulting has been suspended on the London Stock Exchange, ahead of the expected acquisition of the firm by Arcadis.
The firm said the suspension was made “in accordance with the company’s application to the UK Listing Authority… and is effected as part of the scheme of arrangement for the recommended cash offer for Hyder by Arcadis UK Investments”.
Arcadis had previously indicated that it expected to complete the acquisition by 16 October (today).
The Dutch consultant bid £288M (£7.30 a share) for Hyder on 21 August, after Japanese firm Nippon Koei had trumped its first offer.
The acquisition of Hyder and its 4,000 staff would give Arcadis a global workforce of 26,000.
Arcadis chief executive Neil McArthur told NCE in August – following the firm’s opening bid – that the acquisition was driven by the growth prospects in Hyder’s core markets.