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Tetra Tech Inc on Thursday said it has reached agreement on the terms of its proposed acquisition of RPS Group PLC, an Abingdon, England-based professional services firm.
In September, the California, US-based consulting and engineering firm made a £636.0 million takeover offer of 222.00 pence per RPS share. RPS backed the offer, and withdrew its recommendation for a bid by WSP Group Holdings Ltd.
Tetra Tech on Thursday said the cash acquisition is to be effected by means of a scheme of arrangement.
As anticipated, it has now entered into a new $500.0 million secured loan term facility, and signed an amended restated credit agreement.
According to the terms of the restated credit agreement, Tetra Tech can borrow up to $350.0 million under a revolving credit facility to fund the acquisition.
RPS Group shares were flat at 220.00 pence each in London on Thursday.
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