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Hyder could be taken over by Arcadis next month

Engineering firm Hyder Consulting could be taken over by Dutch rival Arcadis by mid-October if its shareholders back the move.

Hyder sent its shareholders an indicative timetable for the £288m takeover yesterday which proposed that the deal close by 16 October.

At the end of August, Arcadis increased its bid to 730p per share for Hyder, which trumped a 680p bid by Japanese firm Nippon Koei.

Nippon Koei has not said whether it will make a further counter bid to Arcadis’s current offer. A spokesman for the Japanese company said it was still considering its position and would respond in due course.

Hyder shareholders will vote on the Arcadis deal at a general meeting on 25 September at the offices of law firm Wragge Lawrence Graham and Co in London. If the deal is approved, then trading in Hyder shares will be suspended at the end of 15 October.

Hyder’s projects include work on Manchester’s Victoria station and Crossrail.

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