AMEC signs $3.3B deal to buy Foster Wheeler

AMEC (AMCBF) signs a definitive agreement to acquire Foster Wheeler (FWLT) in a cash-and-shares deal valued at ~$3.3B, confirming last month's announcement of a provisional agreement between the parties.

AMEC says FWLT's capabilities in the refining and processing of oil and gas will complement its business in exploration and production, and the deal will more than double AMEC's revenue in high-growth regions such as Latin America.

The news came as AMEC reported a 3% increase in FY 2013 EBITDA of £343M ($566M).

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs