CMA is to reconsider the Amec Foster Wheeler merger after the new details

CMA is to reconsider the Amec Foster Wheeler merger after the new details
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Early in 2017, Wood Corporation announced that they were planning to acquire Amec UK. The amount of money proposed totaled over $2 billion. They claimed that the combined group would be organized forming one of the largest companies dealing with construction, engineering, and procurement. The group was going to work in the offshore sector and influential Breakbulk transport brokering. Thus, they could take part in various large energy projects.

After the latest news concerning Amec UK, CMA (which is the Competition & Markets Authority) decided to reconsider the merger. The news said that Wood Group was going to sell off almost all the assets owned by Amec Foster Wheeler. It is likely that the purchase will be completed through the sale of the firm’s Upstream Offshore oil & gas business in the United Kingdom.

The CMA’s officer Kate Collyer claimed that they were going to consider the interests of all the parties of such a sale in order to resolve all of their concerns. Current information on the status of Amec might be found on amecfw.com.

Amec Foster Wheeler: general information

The company was established over 150 years ago as a small business. The corporation, which is now known as Foster Wheeler appeared in 1927 when 2 companies formed a merger (they were ‘Power Specialty’ and ‘Wheeler Condenser & Engineering’). Since that time, the company has been gradually developing. There were other mergers throughout its history, for instance, the one with AGRA in 2000. The step to the new era was made in 2014 after they combined with ‘Amec’. The company became globally known in engineering, project logistics, asset support, power machinery, consultations, and other sectors.

In 2017, Amec Foster Wheeler was successfully acquired by Wood Group. Together they became a leader providing the services for the industrial & energy sectors. Today they offer engineering and technical services all over the world. The corporation has offices and partners in over 60 countries. The current revenue of the company totals $10 billion. Having a team of professionals, the company creates the most effective solutions and has a wonderful reputation among the customers. The key priority of the corporation is long-standing relations with the clients as well as the high quality of work. More data is accessible on amecfw.com.