AMEC Nears $3.2B Deal For Rival Foster Wheeler

Law360, New York (January 13, 2014, 2:13 PM EST) -- Following late last year's rumors of a takeover, U.K. engineering company AMEC PLC has provisionally agreed to acquire rival Foster Wheeler AG in a cash and stock deal valued at approximately $3.2 billion, the company said Monday.

AMEC said that under the deal, Foster Wheeler shareholders would receive about 0.9 new AMEC shares and $16 in cash with a total value of $32 for each Foster Wheeler share. Swiss-based Foster Wheeler has agreed not to solicit any other bids until Feb. 22, by which time the...
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