Sweco has bid €354M (£258M) for Grontmij in an attempt to create a European engineering giant that would have about 14,500 employees and an annual turnover of €1.7bn.
The deal would mean Sweco adding five new markets in northern Europe, including the UK.
Sweco president and chief executive Tomas Carlsson said: “By combining the organisation and resources of Grontmij and Sweco we are forming the leading European engineering consultancy.”
He added: “We will make a recommended public offer for all of the outstanding shares of Grontmij. By doing this we will leverage on what we call a near perfect geographic and cultural and organisational fit between the two companies. All of those elements are important for us. It makes sense from a strategic point of view, it makes sense from a cultural point of view and it makes sense from an organisational structure point of view.”
Source: Casper Hedberg
The deal is expected to be completed later this year.