Consulting giant ARCADIS has acquired Hyder Consulting for £256.2 million.

Commenting on the Offer, Neil McArthur, Chief Executive Officer of ARCADIS said: "Hyder is a unique company with a long history of being involved in the leading edge of design and engineering. Through the transaction we see an excellent opportunity to better serve our clients by further deepening our capabilities in global design and engineering in growth markets whilst creating exciting career opportunities afforded by a stronger global growth platform for staff in both companies. The transaction will create value for ARCADIS shareholders by accelerating our sustainable growth strategy and through the synergy opportunities that arise from the combination."

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Ivor Catto, Chief Executive of Hyder said: 
"ARCADIS' recommended cash offer announced today represents a significant premium to Hyder’s current share price. Although the Board believes that Hyder has a strong future as an independent business, it considers that this cash offer substantially recognises Hyder's growth prospects, and provides certainty, in cash, to our shareholders today. The resultant group should also provide further opportunities for our highly valued clients and staff."

(CD/MH)