Reports claim WSP Global is progressing with discussions to buy Aecom

Canada’s WSP Global Inc. is moving ahead with talks to acquire rival engineering services firm Aecom, reports say.

Shares of Aecom rose 7.7% to $51.33 at 10:14 a.m. in New York trading Wednesday, giving the company a market capitalization of about $8.1 billion. WSP Global shares fell less than 1% to C$88.48 in Toronto, valuing it at about C$9.4 billion ($7 billion).

Bloomberg News first reported in January that WSP had approached Aecom about a potential deal.

WSP has been expanding aggressively through deals. In December it closed an acquisition of U.S. consulting firm Ecology & Environment Inc., a month after announcing the purchase of Australia’s Elton Consulting Group Pty.

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