WorleyParsons shares have slumped after coming out of a trading halt


Shares in Australian engineering services group WorleyParsons fell sharply when they came out of a trading halt after announcing a share entitlement offer to partly fund a $4.6 billion acquisition.

A short time ago, the shares were down 10.7% to $15.93.

The company on Monday announced the acquisition of US-based Jacobs Engineering’s energy, chemicals and resources division for $US3.3 billion ($A4.6 billion).

The deal will be funded by a $A2.9 billion entitlement offer, $A985 million stock issued to Jacobs and new debt.

The shares issued to Jacobs will be at $16.92 per share, which is equal to the theoretical ex-rights price.

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