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Subsequent Events
9 Months Ended
Jun. 30, 2014
Subsequent Events  
Subsequent Events

18.       Subsequent Events

 

On July 11, 2014, the Company entered into a definitive merger agreement to acquire URS Corporation, a leading international provider of engineering, construction and technical services for approximately $4.0 billion. The acquisition is subject to customary closing conditions, including regulatory approvals, adoption of the definition merger agreement by URS stockholders and approval of the stock issuance proposal by AECOM stockholders.

 

Both AECOM and URS may terminate the merger agreement under certain specified circumstances, including if the merger is not consummated on or before April 11, 2015 (or, if such date is extended pursuant to the terms of the merger agreement, if the merger is not consummated on or before July 11, 2015), if the approval of the AECOM or URS stockholders is not obtained, if there is a financing failure, if the other party’s board of directors makes an adverse recommendation change with respect to the proposed transaction, or to enter into a superior acquisition proposal.  In certain circumstances in connection with the termination of the merger agreement, including if AECOM’s board of directors changes or withdraws its recommendation of the stock issuance or terminates the merger agreement to enter into an agreement with respect to a superior proposal, AECOM must pay to URS a termination fee equal to $140 million, or $240 million if the merger agreement is terminated under circumstances where all closing conditions have been satisfied but AECOM’s debt financing is not available to complete the merger and AECOM fails to close the merger.  In certain circumstances in connection with the termination of the merger agreement, including if URS’s board of directors changes or withdraws its recommendation of the merger or terminates the merger agreement to enter into an agreement with respect to a superior proposal, URS must pay to AECOM a termination fee equal to $140 million. If the merger agreement is terminated by a party as a result of certain breaches by the other party, then the non-terminating party will be required to reimburse the terminating party for its reasonable out-of-pocket fees and expenses up to $40 million.

 

On July 24, 2014, the Company acquired Hunt Construction Group, a commercial construction management firm which serves clients in both the public and private sectors.