RWS is using the clout of its all-time-high market cap for a transformative acquisition. The boards of Super Agencies RWS and SDL announced on August 27, 2020 that they “have reached agreement on the terms of a recommended all-share merger of RWS and SDL,” in a deal that sees RWS buy SDL outright.

The transaction values SDL shares at 907p (i.e., GBP 854m; USD 1.128bn) — a whopping 52% premium over SDL’s most recent share price.