Tetra Tech, Inc. (NASDAQ: TTEK) announced today its off-market takeover
bid for all of the outstanding shares of Coffey International Limited
(ASX: COF) is free from all conditions required to close the purchase.
Tetra Tech has now received tendered shares representing approximately
93% of Coffey shares and sufficient acceptances to compulsorily acquire
all remaining shares in Coffey.
Accordingly, Tetra Tech appointed new Coffey directors to replace the
Board which resigned effective January 18, 2016. The new Board has named
Ron Chu, Tetra Tech’s Executive Vice President and President of Resource
Management & Energy, as Chief Executive Officer of Coffey.
“We are pleased to welcome Coffey’s staff to Tetra Tech,” said Dan
Batrack, Tetra Tech Chairman and CEO. “The addition of Coffey propels us
to a global leadership position in international development and
provides us a platform for future growth in the Asia-Pacific region.
This acquisition advances our strategy to be the premier worldwide
provider of consulting and engineering services in each of the markets
we serve. We will now begin implementing the integration plan that will
bring even greater technical capabilities in water and the environment
to our combined clients. We plan to update our fiscal 2016 guidance to
include Coffey’s financial results in our next quarterly earnings
release, which is scheduled for January 27, 2016.”
About Tetra Tech
Tetra Tech is a leading provider of consulting and engineering services.
For 50 years, the Company has supported commercial and government
clients focused on water, environment, infrastructure, resource
management, energy, and international development. With 16,000 staff
worldwide, Tetra Tech provides clear solutions to complex problems. For
more information about Tetra Tech, please visit tetratech.com,
follow us on Twitter (@TetraTech),
or like us on Facebook.
Any statements made in this release that are not based on historical
fact are forward-looking statements. Any forward-looking
statements made in this release represent management’s best judgment as
to what may occur in the future. However, Tetra Tech’s
actual outcome and results are not guaranteed and are subject to certain
risks, uncertainties and assumptions ("Future Factors"), and may differ
materially from what is expressed. For a description of
Future Factors that could cause actual results to differ materially from
such forward-looking statements, see the discussion under the section
"Risk Factors" included in the Company’s Form 10-K and 10-Q filings with
the Securities and Exchange Commission.
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