Amec edges closer to merger with Foster Wheeler

Amec said on Wednesday it has given Foster Wheeler more time to mull its takeover offer.

The consultancy, engineering and project management company reported that the acceptance period offer for Foster Wheeler has been extended to 12 November to allow Foster Wheeler shareholders an opportunity to review the post-effective amendment, which includes Foster Wheeler's third quarter results, released on 3 November.

Samir Brikho, chief executive of Amec, said: "I am delighted that the acquisition process is now nearing the end and completion is expected very soon. With integration planning well underway, we believe the creation of Amec Foster Wheeler is a compelling proposition for our shareholders, our customers and our employees."