Amec to Buy Foster Wheeler for USD 3.2 Billion

Amec of UK said on Monday it has provisionally agreed to take over LNG engineering company Foster Wheeler for $3.2 billion in cash and stock.

Foster Wheeler and AMEC have negotiated non-binding terms of a business combination pursuant to which AMEC would acquire each outstanding share of Foster Wheeler common stock for transaction consideration consisting of 0.8998 shares of AMEC common stock and $16.00 in cash. In addition, assuming binding terms are agreed, the Company expects to pay a one-time dividend of $0.40 per share prior to closing,” Foster Wheeler said in a statement.

The Company believes that the meaningful equity component of the proposed terms would allow its shareholders to participate in the strategic and commercial benefits of the combined company, including significant potential synergies. Under the proposed terms, Foster Wheeler’s existing shareholders would own approximately 23% of the combined company, and it is expected that two members of the Company’s board would join the board of directors of AMEC as non-executive directors,” the company added.

LNG World News Staff, January 13, 2014

 

 

 

Share this article

Follow LNG World News

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >