Tetra Tech To Make Off-market Takeover Offer To Buy Coffey For A$0.425/shr

(RTTNews) - Tetra Tech Inc. (TTEK) and Coffey International Limited (COF.AX) announced the execution of a Bid Implementation Agreement (BIA) under which Tetra Tech will make an off-market takeover offer to acquire 100% of the outstanding shares of Coffey for A$0.425 cash per share.

Founded in 1959 as Australia's first geotechnical engineering firm, Coffey employs 3,300 staff globally, delivering smart solutions and providing innovation and insight across three core service areas including international development, geoservices, and project management. For the most recent fiscal year ended June 30, 2015, Coffey reported revenue of A$556 million or US$407 million.

Coffey's Board of Directors unanimously recommended that shareholders tender their shares and indicated that they intend to accept Tetra Tech's offer in respect to any shares they own or control.