Engineering giant pushes back deadline on its offer for Foster Wheeler

Amec oil and gas project management

Amec鈥檚 long running $3.3bn (拢2bn) acquisition of US engineer Foster Wheeler is set to complete by 13 November after it extended its deadline for shareholders to take up its offer.

Amec first made an offer for the firm in February this year but it has taken months for the deal to near completion.

The original offer expired on 4 November but this deadline has now been extended to 13 November.

Amec said it had agreement to buy 94% of the shares in Foster Wheeler under the terms of its offer.

On Monday, Foster Wheeler reported a near halving of profit from continuing operations in the third quarter of the year.

It reported $25m (拢16m) profit from continuing operations in the third quarter of 2014, down from $49m (拢31m) the previous year.

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