AMEC considering bid for Wood Group
LONDON (Reuters) - Engineer and project manager AMEC (AMEC.L) has contacted Edinburgh banker Angus Grossart about acting as a go-between for a possible offer for oil services firm Wood Group (WG.L), the Daily Telegraph said.
Any deal would create a FTSE-100 company worth about 5 billion pounds.
The newspaper said on Saturday, without citing sources, that AMEC had not yet contacted Wood Group, which is about 25-percent-owned by the family of Chairman Ian Wood, but that it was considering an offer of 520 pence to 560 pence a share.
Wood Group shares closed at 380.75 pence on Friday, valuing the company at about 2 billion pounds. AMEC closed at 738.5 pence, giving it a market capitalisation of 2.4 billion pounds.
AMEC declined to comment. Wood Group was not immediately available.
(Reporting by Mark Potter, Editing by Peter Blackburn)
© Thomson Reuters 2009 All rights reserved.
Can I have one for Christmas?
The hottest toy in the U.S. this Christmas is an interactive hamster. It does not come from one of the major toy brands or from a movie but a small, seven-year-old company from Missouri. Full Coverage

UK
US