Foster Wheeler in $3.3 Billion Acquisition by Amec

March 3, 2014

Cleary Gottlieb is representing Goldman Sachs, as financial advisor to the Board of Directors of Foster Wheeler AG, a global engineering and construction company and power equipment supplier, in connection with its acquisition by Amec plc, an international engineering and project management company, in a cash and stock transaction. Under the terms of the implementation agreement, each share of Foster Wheeler common stock will be exchanged for 0.8998 of a share of Amec common stock and $16.00 in cash. The deal is valued at approximately $3.3 billion.

The acquisition is expected to close in the second half of 2014 and is subject to regulatory approvals and the approval of Foster Wheeler’s and Amec’s stockholders.