Deals
SNC-Lavalin to Buy Kentz for $1.97 Billion in Biggest Deal
This article is for subscribers only.
SNC-Lavalin Group Inc. made its biggest acquisition yet in agreeing to buy Kentz Corp. for 1.16 billion pounds ($1.97 billion) as it seeks to expand in the oil industry where profit margins are high.
The price of 935 pence a share is 33 percent more than last week’s close for Kentz, Montreal-based SNC said in a statement today. SNC said the Kentz purchase probably will close in the third quarter.