Halister News

(Bloomberg) -- Jacobs Engineering to buy CH2M Hill in cash and stock in deal with enterprise value about $3.27b including about $416m of debt.

• Transaction equity value $2.85b to be paid 60% in cash, 40% in stock
  • CH2M holders to have option to elect either $88.08 in cash, 1.6693 shares or mix of $52.85 in cash and 0.6677 shares
• Sees deal adding 25% to adj cash eps
  • Sees deal adding 15% to adj cash eps in first full year after closing
• Sees financing deal with $2.4b cash
  • Post-close liquidity will be about $900m
• Sees annual cost synergies $150m
• CH2M holders to won 15% of JEC shares outstanding
• JEC financial advisers are Perella Weinberg, Morgan Stanley
  • CH2M financial advisers are BofA Merrill Lynch, Credit Suisse
• Conference call to discuss transacation to be held today at 8:30am ET
  • U.S./Canada (833) 231-8270, International (647) 689-4115; Passcode 65134301
• NOTE: Earlier, Jacobs Engineering Is Said to Near Buying CH2M for $2.85B: WSJ

Link to Statement: Jacobs to Acquire CH2M to Create Premier $15 Billion Global Solutions Provider To contact the reporter on this story: Kimberly Yuen in New York at kyuen3@bloomberg.net