Economy

Amec to Buy Foster Wheeler for USD 3.2 Billion

Value will be payed in cash and stock.

AMEC
13/01/2014 13:10
Visualizações: 1473 (0) (0) (0) (0)

 

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.

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.

 

Most Read Today
see see
ROG.e 2026
Camorim invests R$ 250 million in 2026 to expand fleet a...
18/09/26
ROG.e 2026
Firjan SENAI SESI Presents New Technologies at ROG.e Dev...
18/09/26
ADIPEC 2026
ADIPEC 2026 to mobilise investment in resilient, intelli...
18/09/26
Acquisition
CoreMarine takes a decisive step to expand its offshore ...
17/09/26
ROG.e 2026
M&O and Belga Marine to Showcase Global Energy and Offsh...
17/09/26
26th WPC
WPC ENERGY announces the theme, date and location for it...
16/09/26
New Contracts
Petrobras awards Strohm a contract to supply thermoplast...
15/09/26
ROG.e 2026
Equinor Celebrates 25 Years in Brazil and Showcases Its ...
15/09/26
ROG.e 2026
Sindicom to Host Lubricants Arena at ROG.e 2026
15/09/26
ROG.e 2026
ROG.e 2026 Expected to Generate R$ 593 Million for Rio d...
14/09/26
ABPIP
Independent Producers Propose Nine Measures for the Next...
14/09/26
Products and Services
RiverTough Bearings and Seals
05/09/26
International Company News
OES Group Returns to Private Ownership Following Managem...
31/08/26
Pre-Salt
Petrobras platforms P-80 and P-82, which will operate in...
31/08/26
Royalties
Values related to June production were distributed to st...
27/08/26
People
bp appoints Felipe Arbelaez head of country for Brazil
27/08/26
ROG.e 2026
ROG.e 2026 brings global leaders together to discuss the...
26/08/26
Pre-Salt
Búzios field sets monthly and daily natural gas export r...
26/08/26
Navalshore
Firjan SENAI presents the Supplier Opportunities Network...
17/08/26
Equatorial Margin
Morpho Well: Petrobras discovers hydrocarbons in ultra-d...
15/08/26
Power Generation
Campo Grande hosts four days of debates on bioenergy and...
12/08/26
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.