Acquirer: WSP Global Inc. (Canada)
Acquired: Ecology and Environment Inc. (US)
Value: Approx. US$67.3 Million
Industry: Engineering; Industrial Products & Services
On August 28, 2019, Ecology and Environment Inc., (NASDAQ: EEI), a New York corporation, entered into a merger agreement with WSP Global Inc., a Canadian infrastructure engineering company, and its wholly owned subsidiary Everest Acquisition Corp., a New York corporation. (See Ecology and Environment Inc. Form 8-K, Aug. 28, 2019, SEC Filing.) The merger “is subject to the satisfaction or waiver of specified closing conditions, including . . . the clearance of the Merger by the Committee on Foreign Investment in the United States (without the imposition of any Burdensome Condition (as defined in the Merger Agreement)).” (Id.) Ecology and Environment Inc. operates a network of scientific, engineering, and planning professionals to develop solutions to environmental challenges. (See Press Release, Ecology and Environment Inc. Form 8-K, Ex-99.1, Aug. 28, 2019, SEC Filing.) WSP Global “provides engineering and design services to clients in the Transportation & Infrastructure, Property & Buildings, Environment, Power & Energy, Resources and Industry sectors, as well as offering strategic advisory services.” (Id.) On December 31, 2019, Ecology and Environment Inc. announced “the completion of its previously reported acquisition by WSP Global Inc.” (Press Release, Ecology and Environment Inc. Form 8-K, Ex-99.1, Dec. 31, 2019, SEC Filing.) This closing followed the “receipt of the required regulatory approvals.” (WSP Global, Press Release, WSP Strengthens Its Expertise in Environment in the US With the Closing of the E & E Transaction, Dec. 31, 2019.)
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