Via Reuters, English oil and gas engineering firm Amec has agreed to buy rival Foster Wheeler for $3.13 billion. It is the first large transaction in the oil and gas space since the Wood Group took over PSN three years ago for nearly $1 billion. Amec is seeking to add transportation and refining to its spate of services. The Swiss-based Foster Wheeler has a big presence in the United States. It won a contract last July to provide EPCm services for Dow Chemical’s LA-3 Crack More Ethane project in Plaquemine, La.
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