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US/Canada: Designer of first NY subway to be sold to WSP Global

By  |  September 4, 2014

Canada-based engineering group WSP Global has reportedly agreed to acquire Parsons Brinckerhoff, which designed New York’s first subway system, in a $1.24 billion deal.

Reports say WSP will acquire the company from UK-based Balfour Beatty.

The buyout will allow WSP to expand its operations across the US and Australia.

Balfour Beatty stands as the UK’s largest construction company. It first acquired Parsons for $626 million in 2009. Last month the British firm rejected a proposed merger with Carillion because Carillion had insisted that Balfour Beatty call out plans to sell Parsons to WSP, reports say.

Full content: Bloomberg

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