By Katherine Hamilton
Acuren shares fell and NV5 Global shares climbed after the companies said they've agreed to merge.
Acuren's stock fell 7% to $9.79 on Thursday following the news, with shares down 23% this year. NV5's stock meanwhile rose 16% to $21.94. It is up 16% this year.
Acuren, which offers testing and inspection services, said it plans to acquire the engineering services company NV5 for $23 a share. The total consideration is $1.7 billion, Acuren said.
Through the deal, NV5 stockholders will receive $23 a share, $10 of which will be in cash and $13 in Acuren shares. NV5 shareholders are expected to own 40% of the new company.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 15, 2025 10:56 ET (14:56 GMT)
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