UPDATE: Scott Wilson Agrees GBP161 Mln Takeover By URS Corp

28th Jun 2010 08:19

(Adds detail on possible competing offer). By Jason Douglas Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Engineering consultant Scott Wilson Group PLC (SWG.LN) said Monday it agreed a GBP161 million ($242 million) takeover by U.S. peer URS Corp. (URS), but a second firm said it is considering a bid for the company too. URS has offered to acquire Scott Wilson for 210 pence a share, a 76% premium to Friday's closing price. URS said the deal expands its operations in the U.K. and its reach overseas. Scott Wilson recommended shareholders accept the offer. However, Denver, Colorado-based CH2M HILL Cos. Ltd. said it is considering a possible offer for Scott Wilson of its own. It didn't give terms and said there's no certainty a firm offer will be made. -By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; [email protected] (END) Dow Jones Newswires June 28, 2010 03:19 ET (07:19 GMT)