Britain's Kentz Spurns $1B Offers, Sets Stage For Bid War

Law360, New York (August 19, 2013, 1:56 PM EDT) -- U.K. engineering firm Kentz Corp. Ltd. said Monday that it has rejected a pair of takeover offers — one worth more than $1 billion — from London-based rival Amec PLC and Germany's M&W Group GmbH, setting the stage for a potential bidding war.

Kentz's board confirmed that Amec and M&W have made offers to acquire all of the construction company's outstanding stock. The Amec offer, which would have given Kentz shareholders between 565 and 580 pence per share in cash, valued the U.K. firm at roughly...
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