(Alliance News) - WSP Group Holdings Ltd on Wednesday said that its offer for RPS Group PLC has lapsed, after confirming last week that it week that it would not up its bid amid takeover battle.
RPS works in fields including health and safety, exploration and development, planning and approvals and communications.
Last week, 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 was final and refused to raise its rival takeover offer.
Shares in RPS were up 0.5% to 220.00 pence each in London on Wednesday around midday.
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.
RPS has called meetings for November 3 to approve the Tetra Tech deal.
By Sophie Rose; sophierose@alliancenews.com
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