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.