Amec Foster Wheeler announce take over by Wood Group worth £2.2bnTuesday, 14 March 2017 07:56The head offices of Wood Group on Altens industrial estate, Aberdeen, United Kingdom. (Image source: geograph.org)Amec Foster Wheeler has agreed on a takeover by Wood Group worth £2.2bn (US$2.68bn)In a deal that will bring together two of the United Kingdom's largest energy service companies, Wood Group and Amec Foster Wheeler have agreed on a multi-billion dollar takeover deal. Wood Group hope that they can cut around £110mn (US$134mn) in costs from the combined business. On 14 March, the shares in Amec Foster Wheeler increased by 14.7 per cent to GDP 5.61 (US$6.82) per share. The share price of Wood Group also grew by 4.4 per cent to GDP 7.85 (US$9.54) per share.

Source: The North Africa Journal March 14, 2017 15:08 UTC