The Montreal-based engineering giant will buy RPS Global, which specializes in consulting services like water and waste management, for about $3.21 per share. WSP shares closed down more than three per cent Tuesday. (The Logic)

Talking point: WSP’s announcement marks its third takeover in as many months, as the firm acquires assets as part of a broader effort to transform itself from an infrastructure giant to a leading climate-change consultancy. The acquisition will add RPS’ 5,000 staff, bringing WSP’s global workforce of environmental experts up to 23,000. It will be funded by a $400-million bought deal financing underwritten by RBC Capital Markets, National Bank Financial and CIBC Capital Markets. A private placement involving Singapore sovereign wealth fund GIC, the Canada Pension Plan Investment Board and the Caisse de dépôt et placement du Québec will provide another $400 million.