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Tuesday, November 26, 2013

British engineer Amec eyeing Foster Wheeler takeover -report, (NASDAQ: FWLT)

British engineer Amec is eyeing a takeover of U.S.-listed engineering company Foster Wheeler AG in a potential deal that could create a 5 billion pound ($8 billion) energy services group, The Times reported on Wednesday, citing sources. The Times said Amec, which provides services and equipment for the oil and gas, mining, nuclear and renewable energy sectors, has appointed Goldman Sachs to advise it on a potential deal.A spokesman for Amec declined to comment.Foster Wheeler could not immediately be reached outside regular business hours.Switzerland-based Foster Wheeler, valued at $2.83 billion, operates through its engineering and construction business and its power business.

Foster Wheeler AG (Foster Wheeler) is a supplier of engineering, construction and project management contractor and power equipment. Shares of FWLT fell by 1.17% or $-0.34/share to $28.73. In the past year, the shares have traded as low as $19.29 and as high as $30.68. On average, 876485 shares of FWLT exchange hands on a given day and today's volume is recorded at 625353.