UK service firm AMEC and Swiss-based counterpart Foster Wheeler have entered into a “definitive agreement” whereby AMEC will pay $16/share in addition to offering 0.8998 AMEC shares for each share in Foster Wheeler, valuing the acquisition at about $3.3bn.
The price represents 13.8% premium over the closing price on 26 November, the day before reports for the deal surfaced. The deal will give Foster Wheeler shareholders 23% of the combined company. (CONTINUED - 260 WORDS)
