Scott Wilson receives new takeover offer

Engineering consultancy Scott Wilson Group, which has offices in Liverpool, Manchester, Whitehaven, Crewe, and Warrington, has received a higher takeover offer from American firm CH2M HILL.

The Colorado-based company has proposed an offer of £189m, an increase of £28m compared to the offer from URS Corp, another American firm bidding to buy Scott Wilson Group.

CH2M HILL bought around 13% of Scott Wilson Group's listed shares on Monday. The company's offer is 245p/share, which is the same it paid for the initial stake on Monday, and the minimum bid the firm must make under stock exchange rules. URS's offer was 210p/share.

Under the terms of the deal it agreed with Scott Wilson Group, URS Corp said it is able to match any rival offer and is considering increasing its offer.

The board at Scott Wilson is expected to meet on Thursday 1 July to discuss both offers.