WSP Global reaches 90 pc threshold

WSP Global, a Canadian-listed consultancy firm, has crossed the 90 per cent threshold needed to enforce mop-up provisions in its takeover bid for local engineering firm Opus International Consultants, meaning it just needs regulatory approval to close the deal. The Canadian consultancy lifted its stake to 90.7 per cent from 89.5 per cent according to documents filed to the stock exchange. WSP mounted a takeover in August after extended negotiations with Malaysian Stock Exchange-listed UEM Edgenta Bhd, which owns 61.2 per cent of Opus International. It lifted its offer price to $1.92 a month later to accommodate a dividend payment.