Los Angeles engineering design firm Aecom Technology Corp. finalized its acquisition of rival URS Corp. Friday, completing a $6-billion deal that makes it the largest publicly traded company in Los Angeles.
The two California construction and engineering giants announced the deal in July. Both companies have experience managing and designing major infrastructure projects in Southern California and around the world, including the Los Angeles Police Department headquarters, the Metro Gold Line Eastside extension and New York's new World Trade Center.
Friday's announcement comes after stockholders for San Francisco-based URS and Los Angeles-based Aecom approved the deal Thursday.
URS shareholders can exchange stock in the merger for either $53.99 per share or for 1.88 shares of Aecom stock.
The acquisition of URS gives Aecom a stronger foothold in sectors such as power distribution and oil and gas. URS also has a strong business in federal contracting with the U.S. Energy Department and the U.S. Army.