UK CONTRACTOR Wood Group has launched a $2.7 billion recommended takeover bid for compatriot Amec Foster Wheeler (AmecFW).
It expects the move to be “transformational” for an enlarged company that will look to retain its main focus on the oil and gas sector.
The all-shares deal announced this week will create what one analyst called “a dominant player in a fragmented market”, with Wood Group adding fresh strings to its bow via new sectors and signalling possible expansion in the North American unconventionals market.
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