Aecon Group exploring possible sale of the company
According to Aecon, any transaction would be intended to create shareholder value and enhance the company's capabilities and growth potential.
Aecon Group Inc. has confirmed that the company has engaged BMO Capital Markets and TD Securities to explore a potential sale of the company, following a request by the Investment Industry Regulatory Organization of Canada to comment on the recent increase in the trading volume and price of the Company’s common shares on the Toronto Stock Exchange..
According to Aecon, any transaction would be intended to create shareholder value and enhance the company’s capabilities and growth potential.
In a media release, Aecon announced that it does not intend to comment on this matter further unless required by regulations governing the company’s public disclosure practices.
With annual revenue of $3.2 billion, Aecon is the latest mega-firm in the construction/engineering industry to dip its toe into the large-scale merger/acquisition waters.
Earlier this month Jacobs Engineering of Dallas, TX, announced it is acquiring CH2M of Colorado (both with Canadian locations) to create a combined $15 billion global firm, and earlier this summer Montreal-based SNC-Lavalin Group completed its acquisition of UK-based WS Atkins, creating a $12 billion firm.