SAN FRANCISCO ( TheStreet) -- URS Corp announced Monday it has reached a deal to buy Flint Energy Services Ltd. (FES:Toronto) for C$1.25 billion or $1.25 billion.
URS, a San Francisco-based construction company, said it would pay 25 Canadian dollars in cash for each outstanding share of Flint Energy Services. Right now, Canadian and U.S. dollars are nearly equivalent.
The purchase price marks a 68% premium to Flint Energy Services' closing stock price Friday of C$14.90 on the Toronto Stock Exchange. Canadian and U.S. stock markets were closed Monday.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV