CH2M HILL has pulled out of the battle with rival URS for engineering consultancy Scott Wilson.

CH2M HILL withdrew its unrecommended bid of 245p per share after URS submitted an increased recommended cash offer of 290p per share late yesterday.

Lee McIntire, chairman and CEO of CH2M HILL, said:

'While Scott Wilson is an excellent company and an attractive cultural fit with CH2M HILL, it is not felt to be value-enhancing to us at the current valuation.'