Wednesday 5 November 2014 8:34 pm

Amec to complete £2bn Foster Wheeler deal by next Tuesday

Engineering and project management company Amec yesterday said it has extended the acceptance period for its £2bn take­over of Foster Wheeler until the end of New York trading on 12 November. Amec has also filed a post-effective amendment to the registration statement with the US Securities and Exchange Commission. The company said the offer for the US-based engineering and construction contractor had been extended to provide Foster Wheeler shareholders with an opportunity to review the post-effective amendment, which includes Foster Wheeler’s third quarter results, released on Monday. In a statement, Amec said it had acceptances for 94.291 per cent of Foster Wheeler shares on Tuesday. “I am delighted that the acquisition process is now nearing the end and completion is expected very soon. With integration planning well underway, we believe the creation of Amec Foster Wheeler is a compelling proposition for our shareholders, our customers and our employees,” Amec chief executive Samir Brikho said.