Report: British Engineer Amec Eyeing Foster Wheeler Takeover

Reuters

Nov 27 (Reuters) - British engineer Amec is eyeing a takeover of U.S.-listed engineering company Foster Wheeler AG in a potential deal that could create a 5 billion pound ($8 billion) energy services group, The Times reported on Wednesday, citing sources.

The Times said Amec, which provides services and equipment for the oil and gas, mining, nuclear and renewable energy sectors, has appointed Goldman Sachs to advise it on a potential deal.

A spokesman for Amec declined to comment.

Foster Wheeler could not immediately be reached outside regular business hours.

Switzerland-based Foster Wheeler, valued at $2.83 billion, operates through its engineering and construction business and its power business.

The Times cited sources who said that Amec and Foster Wheeler may have held talks in the past but were not engaged in discussions currently.

Amec, a FTSE 100 company, said in August it was looking to make acquisitions in the oil and gas sector.

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Rockies Regional Instrumentation & Electrical Operations Manager
Expertise: Business Development|Electrician|Operations Management
Location: Durango, CO
 
Senior Proposals Specialist
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
 
Principal Consultant
Expertise: Business Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $53.96/BBL 0.35%
Light Crude Oil : $51.36/BBL 0.21%
Natural Gas : $3.209/MMBtu 0.34%
Updated in last 24 hours