It's been reported that AMEC's management is now considering a return of cash to shareholders after the FTSE 100 engineering group pulled out of its offer for sector companion Kentz Corp.
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The withdrawal of the potential £690m offer meant that the focus was on rival bidder M+W Group of Germany, but the German engineering consultancy has followed suit, and withdrawn its interest in a bid. The announcement was something of a relief for AMEC shareholders, who had worried that the group might have become entangled in a drawn-out and expensive bidding war. After pulling out of the potential bid earlier this week, AMEC was the biggest riser on the UK benchmark index.
