Amec says offers to buy Foster Wheeler in $3.1 bln deal
LONDON Jan 13 (Reuters) - British engineer Amec said on Monday it had provisionally agreed to buy Foster Wheeler in a cash and share deal that values the Swiss-based engineer at 1.9 billion pounds ($3.13 billion).
It said Foster Wheeler shareholders would receive approximately 0.9 Amec shares and $16 in cash, representing $32 for each Foster Wheeler share. The cash component of the offer, $1.595 billion, will be financed by Amec's existing cash resources and new debt financing, Amec said.
If the possible offer is completed, Foster Wheeler would hold shares in Amec representing 23 percent of the enlarged company, and Amec would seek a U.S. listing in connection with the transaction, the company said.
- Co-pilot spoke last words heard from missing Malaysian plane |
- Crimea asks to join Russia after Soviet-style vote |
- Crimeans vote over 90 percent to quit Ukraine for Russia |
- Ukraine, Russia agree Crimea truce until March 21-Ukraine minister
- Global stocks rise, yen slips after peaceful Crimea vote |