Ecology and Environment Sells to WSP Global
August 28, 2019
Cleary Gottlieb is representing Ecology and Environment Inc. (E&E) in its all-cash sale to WSP Global Inc. (WSP).
The merger consideration of $15 per E&E Class A and Class B common share, together with a special dividend of up to $0.50 per E&E common share to be paid in connection with the closing of the transaction, represents a 52.9% premium over the closing share price of the E&E Class A common shares on August 27, 2019. The merger agreement was signed on August 28, 2019.
The parties are targeting a closing in the fourth quarter of 2019, subject to E&E shareholder approval, CFIUS approval, and other customary closing conditions.
E&E is a global network of innovators and problem solvers, dedicated professionals, and industry leaders in scientific, engineering, and planning disciplines working collaboratively with clients to develop technically sound, science-based solutions to the leading environmental challenges of our time. E&E is listed on the Nasdaq Stock Exchange under the ticker symbol EEI.