(Alliance News) - Tetra Tech Inc on Thursday said it has reached agreement on the terms of its proposed acquisition of RPS Group PLC, an Abingdon, England-based professional services firm.
In September, the California, US-based consulting and engineering firm made a GBP636.0 million takeover offer of 222.00 pence per RPS share. RPS backed the offer, and withdrew its recommendation for a bid by WSP Group Holdings Ltd.
Tetra Tech on Thursday said the cash acquisition is to be effected by means of a scheme of arrangement.
As anticipated, it has now entered into a new USD500.0 million secured loan term facility, and signed an amended restated credit agreement.
According to the terms of the restated credit agreement, Tetra Tech can borrow up to USD350.0 million under a revolving credit facility to fund the acquisition.
RPS Group shares were flat at 220.00 pence each in London on Thursday.
By Holly Beveridge; hollybeveridge@alliancenews.com
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