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STN - Stantec: Beefing Up The Growth Profile With Cardno Acquisition
Stantec Inc
Stantec is acquiring Cardno's North American and Asia Pacific engineering and consulting assets for c. $620 million.
The deal adds clear strategic benefits and should considerably boost the growth outlook ahead of the US infrastructure bill.
With the favorable financial terms pointing toward an accretive outcome as well, there remains plenty of upside potential as the valuation gap to closest peer WSP Global narrows over time.