US giant engineers takeover of SKM THE investment community is hoping the $1.3 billion acquisition of Australian-based consultant Sinclair Knight Merz by Californian giant Jacobs Engineering will be the first of a string of corporate takeovers under a newly elected government. Described as transformational for the engineering industry, the tie-up between SKM and the listed Jacobs was announced yesterday on the New York Stock Exchange, offering hope to investment banks and advisory firms that have been reporting limited levels of activity for large-scale transactions and are expecting deal flow to lift after the election.