According to the announcement spread by the Takeover Panel, San Francisco-based engineer Scott Wilson has contravened the rules of the panel by expressing that it might hike its bid from 210p a share to 245p.
The panel further added that URS must have stanched itself and should have specified the facts but now considering the situation it may do so by Friday morning.
Amidst all this URS has witnessed that its original offer has budged by a 245p offer from Colorado group CH2M Hill, which appreciated the Scott Wilson at £161m. However it does has the privilege to counterpart any of the competitive bids and retains Scott Wilson's recommendation.
Scott Wilson's shall meet with its board today and expects URS to corroborate its intentions by then, so that the UK group may think upon it and decide its next move and after that it may inform the market.
Moreover from every aspect and direction it seems that the terms and conditions have been agreed upon related to the Takeover Panel's announcement.
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