SNC-Lavalin Group Inc. (TSX:SNC) says its $2.1-billion cash takeover offer for Kentz Corp. Ltd. has received overwhelming support from shareholders of the U.K.-based engineering and construction company.
Engineering consulting and construction firm SNC-Lavalin continued to face challenges in the second quarter, missing expectations despite swinging to a $32.1 million profit on a 12.7-per-cent drop in revenues.
The Greater Toronto Airports Authority renewed a five-year operations and maintenance contract with SNC-Lavalin on Tuesday for a co-generation and central utilities plant that produces power for Pearson International Airport.
A Radio-Canada report says $1.5 million ended up in Swiss bank accounts of a former head of the Federal Bridge Corp. shortly after SNC-Lavalin was awarded a $127-million contract to refurbish a Montreal bridge.
SNC-Lavalin and a consortium partner have signed a US$754-million contract to build a large sulphuric acid plant and power station in Saudi Arabia, a development analysts expect to go over well with investors after a recent lull in big deals.