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UK: Engineering firms shake hands on $3.3B merger

By  |  February 13, 2014

UK engineering firm Amec announced this week that it has agreed to merger terms to acquire US rival Foster Wheeler, a deal inked at more than $3.3 billion.

Reports say Amec is looking to acquire the firm in efforts to strengthen its liquefied natural gas and shale gas operations, as well as boost its presence in emerging markets, including Latin America.

The deal, which was first announced last month, follows Amec’s decision five months ago to deny an acquisition of smaller peer Kentz. Amec denied that the merger with Foster Wheeler was a second-option for the company, instead calling the transaction “transformative” for the firm.

Full Content: Telegraph

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