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UK Accepts Fixes In £2.23B Wood-Amec Energy Services Deal

Law360, Fort Wayne (September 12, 2017, 1:45 PM EDT) -- The U.K.’s Competition and Markets Authority has accepted remedies proposed by oilfield services firm Wood Group to alleviate concerns that its £2.23 billion ($2.96 billion) acquisition of rival Amec Foster Wheeler would harm competition, the agency said Tuesday.

The CMA said John Wood Group PLC’s offer to divest much of Amec Foster Wheeler PLC’s upstream offshore oil and gas business would preserve competition in the supply of engineering and construction services and operation and maintenance services in the country’s oil and gas sector.

“It is crucial...
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