... as US firm Tetra Tech completes takeover of rival WYG

摘要

The takeover of WYG by US rival Tetra Tech has been completed, ending nearly 60 years of independence. In a notice posted on the London Stock Exchange this week, WYG said trading in its shares had been suspended on Tuesday morning. The firm was started in Leeds in 1960 by Ernest Green, later merging with White Young, set up four years later by Terence White and Ron Young, before eventually rebranding as WYG in 2008. Last month, shareholders overwhelmingly voted in favour of Tetra Tech's £43m offer ahead of the High Court officially rubber-stamping the move last week. California-based Tetra Tech, which is listed on the US stock exchange and is worth S3.7bn (£3bn), said it expected to make a "modest" number of cutbacks among WYG's 1,600 staff, which it said "will predominantly come from back-office overhead support and corporate management activities".