Paul Hastings, Slaughter And May Guide $300M Jacobs Deal

Law360 (August 20, 2019, 3:40 PM EDT) -- Texas-based Jacobs Engineering Group, advised by Paul Hastings LLP, said Tuesday that it has agreed to buy the nuclear arm of Slaughter and May-guided engineering company John Wood Group in a $300 million (£250 million) deal.

Jacobs says the purchase of the UK-based energy services business will likely be financed by cash on hand and existing credit facilities.

The transaction, which has an enterprise value of $300 million and doesn’t require Wood shareholder approval, is expected to be finalized in the second quarter of 2020. It already has been greenlighted by both companies’ boards of directors.

Wood’s nuclear arm will be...

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