Wood Group in $2.7 bln Amec Foster Wheeler takeover

By LNG World News Image courtesy of Wood GroupAberdeen-based LNG engineer Wood Group agreed to acquire its compatriot Amec Foster Wheeler in an all-share offer valued at £2.2 billion (Approx: US$2.7 billion).
Under the terms of the agreement, each Amec Foster Wheeler Shareholder will receive 0.75 Wood Group shares for each AFW share.
According to a joint statement by the two companies, the combination will result in Amec Foster Wheeler shareholders owning approximately 44 percent of the share capital of the combined group.
Speaking of the deal, Ian Marchant, the chairman of Wood Group said, it will create a “global leader in project, engineering and technical services

Read Full Article Here

For more great articles: LNG World News

(Visited 29 times, 2 visits today)

Comments

comments



© 2014 RenewaNews