Wragge Lawrence Graham & Co's corporate team has advised main market client Hyder Consulting plc on its £300 million recommended takeover by Dutch peer ARCADIS. The takeover - effected by way of a scheme of arrangement - saw two different companies vying to buy the multinational design and engineering consultancy company, renowned for its work on some of the world's most iconic structures and buildings.
An initial offer price of 650p per share was agreed with ARCADIS, valuing Hyder Consulting at £256.2 million. An offer of 680p from Japanese rival Nippon Koei later followed, prompting an increased bid of 730p from ARCADIS. Hyder Consulting later accepted a further proposal of 750p from ARCADIS, following its purchase of a nine per cent stake from its largest shareholder, Aberforth.
The Wragge Lawrence Graham & Co team was led by corporate partner Julian Henwood and included: corporate tax partner Michael Murphy; senior associate Rebecca Gordon (corporate); associate Samuel Beighton (antitrust); and associate Emily Troubridge (corporate).
Julian Henwood said: "This is a great outcome for Hyder Consulting, who we've had the pleasure of acting on behalf of for a number of years. This deal reflects the growing strength and activity within the M&A market - there are high value public and private deals to be done and for now, activity is picking up and confidence within this area continues to grow."
Russell Down, Group Finance Director, Hyder Consulting said: "We have enjoyed a long-standing relationship with Wragge Lawrence Graham & Co having worked with them both before and during our IPO in 2002. Julian Henwood and his team know our business well and, once again, played an essential role in helping to guide us through another complex transaction."
The 60-strong Wragge Lawrence Graham & Co corporate team has extensive experience across the full spectrum of corporate advice including equity capital markets on AIM and the Full List, investment funds, private equity and both public and private mergers and acquisitions.
