UPDATE 1-URS to acquire Washington Group for $2.3 billion

(Reuters) - Under terms of the deal, Washington Group shareholders will
get $43.80 in cash and 0.772 shares of URS common stock for
each Washington Group share they own. That values Washington
Group at about $80 per share. Based on Washington Group's 29.2
million shares outstanding, the deal is worth about $2.3
billion in cash and stock.




The price marks a 14-percent premium over Washington
Group's closing stock price of $69.97 on Friday. The U.S.
financial markets were closed on Monday for Memorial Day.


Read more at Reuters.com Mergers News