(Alliance News) - WSP Group Holdings Ltd confirmed on Tuesday that it won't raise its rival takeover offer for RPS Group PLC.
RPS shares were down 6.8% at 220.00 pence each on Tuesday morning in London.
WSP Group, a subsidiary of Toronto-listed consultancy firm WSP Global Inc said its roughly GBP591 million, or 206 pence per share, offer for the company is final.
Professional services firm RPS in September recommended a GBP636 million takeover offer from consultancy and engineering services firm Tetra Tech Inc. Tetra's offer is for 222p per RPS share, a 7.8% premium to the 206p offered by WSP.
WSP said its offer is now final, and RPS called meetings for November 3 to approve the Tetra Tech deal.
RPS works in fields including health and safety, exploration and development, planning and approvals and communications.
By Xindi Wei; xindiwei@alliancenews.com
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