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#61
General Discussion / CH2M is no more
Last post by sreevesjc - August 02, 2017, 11:28:12 AM #62
General Discussion / Re: Jacobs Takeover
Last post by sreevesjc - August 02, 2017, 09:29:49 AMhttps://www.wsj.com/articles/jacobs-engineering-nears-deal-to-buy-ch2m-hill-1501646460
'A cash-and-stock deal for the engineering-services firm is expected to be announced Wednesday, people familiar with the matter said'.
'A cash-and-stock deal for the engineering-services firm is expected to be announced Wednesday, people familiar with the matter said'.
#63
General Discussion / Re: Jacobs Takeover
Last post by Tim SMITH - August 01, 2017, 10:20:32 PMThe Engineering News-Record (26 July 2017) contains a similar report:
http://www.enr.com/articles/42407-how-costly-projects-are-forcing-ch2m-to-weigh-a-buyout
http://www.enr.com/articles/42407-how-costly-projects-are-forcing-ch2m-to-weigh-a-buyout
#64
General Discussion / Re: Jacobs Takeover
Last post by John Ratsey - August 01, 2017, 03:07:58 PMA report in the Denver Post which implies that Jacobs don't want to repeat CH2M's trick of paying too much.
#65
General Discussion / Re: Jacobs Takeover
Last post by Tim SMITH - July 31, 2017, 06:12:48 PMOn 23rd July 2017, the Telegraph was saying:
CH2M's takeover in danger of derailment
"A potential purchase of CH2M, the engineering consultancy involved in some of the UK's biggest infrastructure works, could be scuppered by a host of troubles the business faces ... that could see Jacobs abandon a deal or negotiate a knock-down price, including:
● the over-running MoPac toll road project in Texas
● construction of a power plant in Australia which CH2M pulled its staff off at the start of the year, with the project suffering huge delays."
http://www.telegraph.co.uk/business/2017/07/23/ch2ms-takeover-danger-derailment/
CH2M's takeover in danger of derailment
"A potential purchase of CH2M, the engineering consultancy involved in some of the UK's biggest infrastructure works, could be scuppered by a host of troubles the business faces ... that could see Jacobs abandon a deal or negotiate a knock-down price, including:
● the over-running MoPac toll road project in Texas
● construction of a power plant in Australia which CH2M pulled its staff off at the start of the year, with the project suffering huge delays."
http://www.telegraph.co.uk/business/2017/07/23/ch2ms-takeover-danger-derailment/
#66
General Discussion / Jacobs Takeover
Last post by sreevesjc - July 31, 2017, 09:29:09 AMA takeover by Jacobs is looking more likely:
http://www.telegraph.co.uk/business/2017/07/29/ch2m-snapped-rival-jacobs-deal-set-earn-huge-windfalls-executives/
'Ms Hinman's contract also stipulates she holds shares worth five times her annual $1m salary, further boosting the windfall she will receive on completion of the deal'. No surprises there. The rest of us face potential job insecurity.
Will Jacobs honour the pension commitments?
http://www.telegraph.co.uk/business/2017/07/29/ch2m-snapped-rival-jacobs-deal-set-earn-huge-windfalls-executives/
'Ms Hinman's contract also stipulates she holds shares worth five times her annual $1m salary, further boosting the windfall she will receive on completion of the deal'. No surprises there. The rest of us face potential job insecurity.
Will Jacobs honour the pension commitments?
#67
News / Re: Latest Press Reports
Last post by John Ratsey - July 21, 2017, 07:09:59 PMAnd another memory failing: I don't recall CH2M intentionally paying £230M for Halcrow although it might have cost that much including clearing debts.
This article contains a couple of links to other reports with more details of the possible Jacobs - CH2M acquisition.
This article contains a couple of links to other reports with more details of the possible Jacobs - CH2M acquisition.
#68
News / Re: Latest Press Reports
Last post by Tim SMITH - July 21, 2017, 06:28:47 PMCH2M "TARGET OF JACOBS TAKEOVER"
It is reported in The Times of 20th July 2017 that CH2M is understood to be in advanced talks to be taken over by Jacobs. Reference is made to the Halcrow pension débâcle. (Apparently CH2M was "dragged into a row over pension liabilities"! I thought CH was responsible for the whole thing. Funny how the memory can play tricks.)
"CH2M ... has been dragged into a row over pension liabilities for UK professionals, dating from its 2011 entry into the British construction engineering mainstream via its £230 million acquisition of Halcrow."
It is reported in The Times of 20th July 2017 that CH2M is understood to be in advanced talks to be taken over by Jacobs. Reference is made to the Halcrow pension débâcle. (Apparently CH2M was "dragged into a row over pension liabilities"! I thought CH was responsible for the whole thing. Funny how the memory can play tricks.)
"CH2M ... has been dragged into a row over pension liabilities for UK professionals, dating from its 2011 entry into the British construction engineering mainstream via its £230 million acquisition of Halcrow."
#69
General Discussion / CAPITA - Failure to implement ...
Last post by tonybird1946 - July 17, 2017, 06:27:15 PMI received a letter today from Capita apologising for their failure to implement tax codes issued in 2016/17 for HPS2 members.
I'm not personally affected but some members may have underpaid or overpaid tax by a considerable amount.
HMRC are going to make the necessary changes to the 2017/18 tax codes to recover any underpayment. This could have a considerable effect on the net pension of those worse affected.
I would have expected that an error of this magnitude would have been advised to the members by the Trustees or by at least by CH2M Hill rather than the provider of payroll services.
I await with interest any comments that the trustee make and what steps they will take to attempt to avoid such basic errors in future. I don't recall similar errors when pensions were paid by the companies own payroll department.
I'm not personally affected but some members may have underpaid or overpaid tax by a considerable amount.
HMRC are going to make the necessary changes to the 2017/18 tax codes to recover any underpayment. This could have a considerable effect on the net pension of those worse affected.
I would have expected that an error of this magnitude would have been advised to the members by the Trustees or by at least by CH2M Hill rather than the provider of payroll services.
I await with interest any comments that the trustee make and what steps they will take to attempt to avoid such basic errors in future. I don't recall similar errors when pensions were paid by the companies own payroll department.
#70
General Discussion / Re: Potential Merger CH2M with...
Last post by Dillerman - June 13, 2017, 08:30:13 AMQuote from: Adam eSchofield on April 21, 2017, 12:50:27 PM
Atkins has indeed been 'bought' by SNC-Lavalin - subject to https://www.mergere.com/d-bal-max-review-and-results to d bal max shareholders agreeing with the recommendation of Atkins Exec Board. Which they will
I think a merger would be good.