SNC is still pursuing AECL

SNC-Lavalin says it's still interested in Atomic Energy of Canada Limited, but analysts are questioning whether the potential acquisition is still as attractive in the wake of the disaster in Japan.

As a result, SNC, which has teamed up with Ontario Municipal Employees Retirement System on the bid, might wind up paying less than it otherwise would have, analysts suggest.

It's early days, but it appears that the events of the past week could have a lingering impact on the world's demand for new nuclear plants.

There are two reasons that SNC is interested in AECL: the opportunity to refurbish existing reactors, and the opportunity to build new reactors, points out CIBC analyst Paul Lechem.

"If you change the proposition to just being based on the refurbishment opportunity, you might come to a different number," he said.

Similarly, Desjardins Securities analyst Pierre Lacroix says that "maybe this will create an opportunity for SNC to get it at the price they want."

At this stage, SNC will only confirm that it's still interested, and Omers is remaining mum.