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.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now