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| Aecom completes Davis Langdon acquisition US engineering giant Aecom Technology Corp announced that it has completed its acquisition of Davis Langdon, a global cost and project management consultancy firm, in Australia and New Zealand, Europe, the Middle East and the United States. Davis Langdon provides cost and project management services, and specialist consultancy services, to clients around the world. Davis Langdon's 2,800 employees serve public- and private-sector clients in a variety of markets. Its counterpart in Asia, Davis Langdon & Seah, remains independent, but continues to work with AECOM's Davis Langdon operations under an existing collaboration agreement. The acquisition of Davis Langdon's South Africa operations is expected to be complete by the end of October 2010. The transactions, including Davis Langdon South Africa, are valued in the aggregate at approximately US$324 million. Aecom expects the transactions to be accretive to cash earnings per share (EPS) in fiscal year 2011. On a GAAP basis, the transactions are expected to be neutral to EPS in fiscal year 2011. Under the terms of the agreements, Davis Langdon will receive approximately 82 percent of the consideration in cash and 18 percent in AECOM common stock. write your comments about the article :: © 2010 Construction News :: home page |