A big restructuring at SNC-Lavalin Group Inc. became a priority for management as emerging economies struggled and a commodity downturn coursed through the company and mining revenues shrunk to a point at which they were barely relevant.
Dividend investors are always on the lookout for stocks that pay reliable and increasing distributions. Most of the time these companies command a premium, but once in a while you get a chance to pick one up on sale.
The Canadian firm is buying British-based oil and gas services specialist Kentz Corp. as it aims to break into the ranks of the world's largest engineering companies and strengthen its capability in higher-margin natural resources.
Underneath the fraud and bribery allegations dogging SNC-Lavalin Group Inc. is a “stunningly cheap” stock that could turn the company into takeover bait, analysts and shareholders say, possibly even attracting Warren Buffett.
Fool me once, shame on you. Fool me twice… well, you know how it goes. SNC-Lavalin Group Inc. (TSX: SNC) hit investors on the head with a shovel again on November 6 when it announced plans to slash 4,000 jobs, or about 9% of its staff.