Half Year Results 

Amec fosters hope for Wood deal

Amec fosters hope for Wood deal

Is the all-share takeover of Amec Foster Wheeler (AMFW) off the table? Amec’s share price suggests investors are nervy, though as the oil services group explained to the market in its half-year results, its merger with Wood Group (WG.) is on track to complete in the fourth quarter of 2017. Such reassurance may have explained the shares’ 5 per cent gain on the publication of these numbers, particularly as the accounts offered limited consolation elsewhere. But Amec stock is still 20 per cent adrift of 564p-a-share valuation when the all-share deal was first proposed in March.

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