Hints and tips:
...Those included KBR, British company Amec Foster Wheeler — now owned by engineering group Wood — Swiss-Swedish conglomerate ABB and Petrofac....
...“Amec Foster Wheeler continues fully to co-operate with and assist the SFO.”...
...And, finally, it is looking like plain sailing from here on for Wood Group’s £2.2bn acquisition of oil services rival Amec Foster Wheeler....
...By taking on Amec Foster Wheeler, Wood diversifies its business too. Once just a deepwater oil services engineer, Wood still sources 85 per cent of its revenues from oil and gas....
...Rival oilfield service companies are circling Wood Group and Amec Foster Wheeler with the aim of picking up assets and contracts likely to be shed by the UK pair as a result of their £2.2bn merger....
...John Wood Group’s gloomy half-year results suggest only one question, though: is it paying too much for smaller rival Amec Foster Wheeler?...
...John Wood Group agreed a £2.2bn deal for engineering services company Amec Foster Wheeler last month, while SNC-Lavalin acquired UK-listed Kentz Corporation, the oil and gas services specialist, for £1.16bn...
...Until recently, speculation had swirled that SNC-Lavalin would launch a counterbid for Amec Foster Wheeler, which last month agreed to be acquired by Scotland’s John Wood Group....
...But John Wood Group’s gloomy half-year results suggest only one question: is it paying too much for smaller rival Amec Foster Wheeler?...
...Earnings at companies such as Wood Group, Petrofac and Amec Foster Wheeler have made for painful reading since oil prices began their slide from $115 a barrel in mid-2014 to as low as $27 last year, forcing...
...In January, Mr Asfari’s counterpart Samir Brikho was ousted from the top job at Amec Foster Wheeler, another oilfield services group....
...Amec Foster Wheeler, which is negotiating a refinancing of debt, dropped 7 per cent to 351.9p. Controls maker Spectris rallied 8.8 per cent to £16.48 after its full-year results matched forecasts....
...They were Amec Foster Wheeler, Shell Upstream International, Weir Group and Benoy, the architecture company....
...The collapse of Amec’s approach for Kentz in September led to its spurned suitor launching an agreed $3.2bn cash-and-shares offer for US rival Foster Wheeler in January as part of a wave of continuing consolidation...
...As part of the same research Deutsche also downgraded Amec Foster Wheeler, down 4.3 per cent to 803p, and Hunting, off 7.1 per cent to 471.1p....
...Last year, oilfield engineer Kentz rebuffed larger rival Amec. Now it has agreed a £1.16bn takeover by SNC-Lavalin. The Canadian oil services group is paying 935p per share in cash....
...Groups such as Amec, now a powerful oilfield services company, have quit the construction industry to escape this trap. The solution chosen by Balfour, like many others, was to diversify....
...Although there had been speculation surrounding SNC-Lavalin, the Canadian oil services group run by Amec’s former chief operating office Neil Bruce, no bid has emerged....
...Both Amec, the FTSE 100 oil services group, and rival bidder M+W, owned by Austrian industrial and real estate conglomerate Stumpf, have until September 16 to make a formal offer for Kentz....
...Trading on a forward p/e of 13, Amec shares are in line with, rather than at a premium to, many of its sector peers....
...FTSE 100 oil services companies John Wood Group and Amec will be among companies competing for business decommissioning North Sea infrastructure and finding ways to extend the use of installations....
...Oilfield services companies were in demand as the FTSE 100 climbed to its biggest three-day gain in more than two years....
...Amec was down 3 per cent to 849½p as brokers downgraded in response to Thursday’s weaker than hoped results from the engineering services group....
...Amec , the industrial services group, lost 1.1 per cent to £11.74 after a capital markets day that analysts described as “solid rather than spectacular”....
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