AMEC looks to acquire Foster Wheeler

Subscribers to the INSIDER newsletter will have read about the abortive bid by AMEC for the Kentz corporation in August this year, reported in the September newsletter, page 6. Now in the UK’s Times newspaper, it is reported that AMEC has turned its attention to the possible acquisition of US based Foster Wheeler! 

GB based AMEC commented in August that it was keen to expand in the oil and gas sector, so Foster Wheeler obviously meets that requirement. 

If the deal goes ahead, it could create an overall energy services group worth $8 billion. AMEC advisors are Goldman Sachs.

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