Engineering group
The ASX-listed firm will fund the acquisition through a combination of $A2.9 billion entitlement offer, $A985 million in stock bonds issued to the US seller, and new debt.
WorleyParsons, which has a market capitalisation of $4.9 billion, says the deal will create a pre-eminent global provider of resources and energy services, while diversifying earnings, increasing exposure to more stable revenue streams, and generate significant cost and revenue synergies.
The agreement will give WorleyParsons bigger businesses in North America and India, and adds another 30,900 employees across 27 countries.
Jacobs' ECR division had pro forma revenue of $US3.4 ($A4.78 billion), compared to WorleyParsons' current $A4.6 billion revenue.
"We are excited to combine Jacobs ECR's world-class capabilities with our global platform to create a leader across our key focus sectors, with greater earnings diversification and resilience," chief executive Andrew Wood said in a statement.
"Shareholders will have exposure to material EPS accretion, a strong long-term growth outlook and a conservatively leveraged balance sheet, while our employees will have increased opportunity for development."
Shares in WorleyParsons last traded at $17.84 - roughly a sixfold increase since February 2016 - before being placed in a trading halt prior to Monday's open.
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