ACM stock is up in pre-market trading on rumors of a takeover deal. The rumors circulating is that Canadian engineering services firm WSP has approached rival Aecom over a potential deal. The rumors are coming from Bloomberg’s Ed Hammond in an article he wrote on January 13, 2020 here.

On January 14, 2020, Baird analyst Andrew Wittmann noted reports that Canadian based WSP may have approached Aecom about a buyout deal and he believes the report could be credible. He said WSP is a known acquirer with big goals, the cost synergy potential could be signficant, and the recent share price move higher has been inexplicable on a fundamental basis. Wittmann believes a potential deal could push the share into the high $50’s but he maintained his $50 price target on Aecom shares.

On December 30, 2019, Aecom was awarded a $101M modification to contract for enhanced army global logistics enterprise army prepositioned stocks-5 supply and transportation logistics support services. Work will be performed in Camp Arifjan, Kuwait; and Doha, Qatar, with an estimated completion date of January 2, 2021. FY20 operations and maintenance, Army funds in the amount of $48.03M were obligated at the time of the award. U.S. Army Contracting Command is the contracting activity.

On December 16, 2019, Aecom (ACM) announced that an Aecom-led joint venture with Fluor (FLR) and Atkins, Central Plateau Cleanup Company, was awarded the Central Plateau Cleanup Contract at the Hanford Site near Richland, Washington. The master indefinite-delivery/indefinite-quantity contract is valued at $10B for a period of 10 years, including a 60-day transition period.

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