September 5, 2014
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PB Acquired by WSP Global

WSP Global Inc., headquartered in Montréal, entered into an agreement to purchase Parsons Brinckerhoff Group Inc. (PB) from Balfour Beatty plc for an enterprise value of $1.2 billion plus an additional consideration for cash retained by PB of up to $110 million. The agreement was announced on Sept. 3.

The boards of both WSP and Balfour Beatty plc have approved the terms of the acquisition, which remains subject to certain conditions. The acquisition process should be completed later this year, at which time George J. Pierson, PB president and chief executive officer, will become an executive member of the WSP Global Board of Directors.

PB, headquartered in New York City, is a global firm that provides services in transportation, community development, and other infrastructure systems. It has a network of approximately 170 offices and nearly 13,500 employees on five continents. Balfour Beatty acquired PB in 2009.
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