URS To Buy Flint Energy Services, Provides FY12 Outlook
(RTTNews.com) – URS Corp. (URS) has agreed to buy Flint Energy Services Ltd. (FES.TO) for C$25.00 per share in cash or C$1.25 billion. URS will also assume about C$225 million in Flint debt, the company said in a statement.
URS also detailed its full-year 2012 financial outlook, with earnings expected to beat current estimates while revenues are forecast to miss expectations.
URS said the transaction will be accretive to its 2012 earnings and will increase its revenues from oil and gas sector to about 22 percent of total revenues.
Flint Energy provides an expanding range of integrated products...
