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AMEC signs agreement to buy Foster Wheeler for $3 billion

3:40 PM MST | January 20, 2014 | —Natasha Alperowicz

Foster Wheeler (Zug, Switzerland) has announced that, following a comprehensive review of strategic alternatives, it has provisionally agreed with AMEC (London) on nonbinding outline terms possibly combining the two companies. The announcement confirms earlier reports that AMEC is in talks to acquire Foster Wheeler as well as a response to a separate announcement by AMEC. A new giant: Combining the two firms would create a major E&C player. The two companies have negotiated nonbinding terms of a combination under which AMEC would acquire each outstanding...

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