Foster Wheeler Investors Balk At $3B AMEC Merger

Law360, Houston (March 19, 2014, 4:22 PM EDT) -- Foster Wheeler AG and AMEC PLC were hit with a proposed class action suit in Texas state court Tuesday that alleges a planned $3.3 billion tie-up of the engineering companies undervalues shareholder equity while enriching board members.

Lead plaintiff Jalli Harinder says the deal, which has Foster Wheeler shareholders set to receive about $32 in consideration for each of their Foster Wheeler shares, represents less than a 1 percent premium over the 20-day average price of their stock. Motivated by their own financial interests, the Foster...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.