The Worleyparsons Limited (ASX: WOR) share price is rising today after it made an ASX announcement.
WorleyParsons is a global professional services company which provides expertise in engineering, procurement and construction in the hydrocarbons, power, infrastructure, mining and minerals, and chemical sectors.
Why Worleyparsons shares are higher
Worleyparsons is currently going through a major acquire Jacobs Engineering’s Energy, Chemicals and Resources division.
Today, the company received regulatory approval from the Committee on Foreign Investment in the United States (CFIUS). Worleyparsons has now received all regulatory clearance and approvals required for completion in Europe, Canada and South Africa.
Assuming the rest of the acquisition conditions are satisfied, Worleyparsons management believe that the deal will complete by the end of April 2019.
Once completed, the company will employ approximately 57,600 people in 51 countries, providing global sector leadership across hydrocarbons, chemicals and minerals & metals and the company said it will bring “significant value” upside through cost and revenue synergies.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).