Tetra Tech, Inc. Announces Acquisition Of RPS Group - Quick Facts

(RTTNews) - The boards of Tetra Tech, Inc., Tetra Tech UK Holdings Limited and RPS Group plc (RPS.L) have reached agreement on the terms of a recommended cash acquisition pursuant to which Tetra Tech UK Holdings, a subsidiary of Tetra Tech, Inc., will acquire the entire issued and to be issued share capital of RPS. RPS shareholders will be entitled to receive, for each RPS share held: 222 pence in cash. The deal values the entire issued and to be issued share capital of RPS at approximately 636 million pounds.

The merger is expected to be mid to high teen percent accretive to Tetra Tech's adjusted earnings per share after realising the full benefit from an estimated 21 million pounds in cost synergies and integration into Tetra Tech.

Also, the RPS directors have withdrawn their recommendation of the WSP offer.