Foster Wheeler, AMEC consider merger

Foster Wheeler AG (Nasdaq: FWLT) announced that the company signed a non-binding agreement with AMEC plc over a potential business combination of the two companies.

Under the non-binding terms, 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 in cash. Based on AMEC’s stock price as of the close of trading on Jan. 10, the proposed deal would vale each Foster Wheeler share at approximately $32.40, and the fully diluted share capital of Foster Wheeler at $3.3 billion. Foster Wheeler shareholders would own approximately 23 percent of the combined company.

Read more merger and acquisition news