Washington Group International acquired by URS Corp for $3.2 billion
Client(s) Washington Group International, Inc.
Jones Day advised Washington Group International Inc. in its $3.2 billion acquisition by URS Corporation.
Under the terms of the agreement, Washington Group stockholders received $43.80 in cash and 0.9 shares of URS common stock for each Washington Group share. The transaction allowed the portion of consideration received in URS stock to be tax-free to Washington Group stockholders. URS stockholders retained their shares following the consummation of the transaction. Washington Group stockholders now own approximately 35% of the combined company. The combined company is called URS Corporation.