Amec Foster Wheeler

Amec Foster Wheeler

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22 Sep 2017
Credit Industriel - Form 8.3 - Amec Foster Wheelerfrom Interactive Investor
22 Sep 2017
BNP Paribas London - Form 8.3 - [Amec Foster Wheeler Plc]from Interactive Investor
22 Sep 2017
BlackRock Group - Form 8.3 - Amec Foster Wheeler Plcfrom Interactive Investor
22 Sep 2017
Omni Partners LLP - Form 8.3 - Amec Foster Wheeler Plcfrom Interactive Investor
22 Sep 2017
Citadel Group - Form 8.3 - AMEC Foster Wheeler Plcfrom Interactive Investor
22 Sep 2017
Omni Partners LLP - Form 8.3 - John Wood Group Plcfrom Interactive Investor
22 Sep 2017
Artisan Partners - Form 8.3 - Amec Foster Wheeler PLCfrom Interactive Investor
22 Sep 2017
State Street Global - Form 8.3 - John Wood Group Plcfrom Interactive Investor
22 Sep 2017
State Street Global - Form 8.3 - Amec Foster Wheeler Plcfrom Interactive Investor
22 Sep 2017
AQR Capital Management - Form 8.3 - Amec Foster Wheeler Plcfrom Interactive Investor

Amec Foster Wheeler Charted

Amec Foster Wheeler Discussion on Interactive Investor

Re: Fraud Squad investigation by Ripley94

  Wed, 12 Jul 2017 14:59:00 GMT
09/02/17
RNS.. has dropped below my top up , read elsewhere in press, could affect take offer.
By Ripley94

Re: Fraud Squad investigation by Boring Bernie

  Wed, 12 Jul 2017 09:51:00 GMT
I don't think it'll affect the takeover, because the SFO investigation was expected anyway, but it'll certainly focus minds on what liabilities Wood Group are taking on.

BB
By Boring Bernie

Re: Share price getting off lightly? by Hub

  Wed, 12 Jul 2017 09:49:00 GMT
the press hasn't got hold of it properly yet and I suspect the shorters will be adding positions ahead of the next 'news' event which no doubt will follow same pattern as Petrofac in that 'directors' will be questioned under caution etc etc

Market seems reluctant to beat Amec up in same manner as Petrofac probably due to merger etc.

That said, the rollsroyce sp based on SFO case was not beaten up in same way as PFC, so perhaps it's pfc that was overdone?

If true, then the market has the true worth of pfc incorrect at 455p and I suspect it will head back to 550p+ to spare some blushes.

Sometimes you need other examples to play out before you know which ones have been overdone or underdone.

HUB
By Hub

Share price getting off lightly? by Jack_Walsh

  Wed, 12 Jul 2017 09:08:00 GMT
Certainly compared to the bloodbath that ensued for Petrofac when the SFO inquiry was announced.

That said, it's been a decent day or two for oil prices.
By Jack_Walsh

Fraud Squad investigation by Doomsayer

  Tue, 11 Jul 2017 22:17:00 GMT

Anybody got a view on this?

https://www.sfo.gov.uk/2017/07/11/sfo-confirms-investigation-amec-foster-wheeler/


By Doomsayer

Re: Wood Group take-over... by Kenj2

  Fri, 30 Jun 2017 09:31:00 GMT
AMFW announced today that following talks with Wood Group, that they will now only sell off the North American Nuclear business, and that they will retain the European operations.
By Kenj2

Re: Wood Group take-over... by Kenj2

  Wed, 28 Jun 2017 15:03:00 GMT
Batteryman15,

I can find nothing in AMFW's news to say that they are keeping anything out of the deal. The way I view it is that they are selling off their nuclear business to reduce their debt, and the Monopolies Commission has dictated that they sell off the Aberdeen business. I would expect the cash they get from both of these disposals to add to their cash position or be used to reduce total debt. So in effect Wood Group will benefit from these transactions.

These quotes are from the RNS released on 13 March 2017:

"With the proceeds of the planned disposal of the Company's nuclear business now expected in Q3 2017, to ensure continued compliance with its financial covenants, the Company is today initiating a process to increase the leverage covenant in its debt facilities to provide additional headroom prior to the measurement period ending 30 June 2017."

"Earlier today, Wood announced a recommended all-share offer for the entire share capital of Amec Foster Wheeler."
By Kenj2

Re: Wood Group take-over... by John of Groats

  Fri, 23 Jun 2017 11:42:00 GMT
Perhaps this country's attitude to national champions helps explain our trade imbalance. Just when a company becomes large enough to compete on the international stage, in steps a government agency to break it up.

Governments keep changing the name and the powers of this body just to keep everyone on their toes. It started out as the Monopolies and Restrictive Practices Commission on 1 January 1949. It became the Monopolies Commission on 31 October 1956. It was reconstituted with additional powers in 1965. In 1973, it became the Monopolies and Mergers Commission. On 1 April 1999, it became the Competition Commission and, on 1 April 2014, it became the Competition and Markets Authority. Do Civil Servants understand the significance of April Fools Day?

French governments have no such hang-ups about allowing national champions to prosper, often taking a shareholding to block any foreign takeover. We, instead, like to encourage foreign companies to take over parts of British companies that have become too large for the British market. There are exceptions such as Rolls-Royce, which are too valuable to our economy or security but smaller companies are fair game.

John
By John of Groats

Re: Wood Group take-over... by batteryman15

  Thu, 22 Jun 2017 11:48:00 GMT
kenj2.

I heard it was something to do with the oil and gas part of the business in Aberdeen. Apparently the UK Monopoly’s and Merger committee have said that this part of the business can not go with the sale to Wood Group cos it would create too large a company in the UK and affect fair competition??? If this is true, maybe that's why the price difference between the wood and Amec Foster Wheeler shares is widening? Maybe the price needs renegotiating because of this?

I also heard that the nuclear part of Amec Foster Wheeler is not part of the sale (and never was). I don't know much about this part of the business or how big it is but I think it is UK and USA based? I don't know what is going to happen to this part of the business or if it will affect the share price / takeover??? All seem very confusing.
By batteryman15

Re: Wood Group take-over... by John of Groats

  Wed, 21 Jun 2017 12:50:00 GMT
dazedandconfused,

You were among a very small minority that voted against the takeover at the Court and General Meetings on Thursday, 15th June. Of the votes cast, just 0.08% were against.

Wood Group shares are now down at 655.0p. You might expect Amec to be at 75%of that (= 490.75p) but they are actually a little lower at 478.0p. Does the market expect the combined company to be worth less than the parts?

I wish I had sold my shares when the takeover was proposed.

John

By John of Groats

Re: Wood Group take-over... by Kenj2

  Thu, 15 Jun 2017 22:40:00 GMT
Batteryman15,

As far as I know the offer from WG was for all of AMFW, and I am not aware of any changes to this deal. I have heard that AMFW may have to sell off part of their North Sea assets, as a result of the merger,but this is I believe a monopolies commission ruling. Can you be more specific about what is not included in the sale?
By Kenj2

Re: Wood Group take-over... by dazedandconfused

  Wed, 07 Jun 2017 16:01:00 GMT
There's nothing i've heard from within Amec, but the continued fall in share price means i've voted against this 'takeover'.
By dazedandconfused

Re: Wood Group take-over... by batteryman15

  Wed, 07 Jun 2017 12:11:00 GMT
Is the Amec Foster Wheeler share price meant to track the Wood Group share price with a ratio of 0.75?

Seems like there is a lot of confusion in Amec Foster Wheeler at the moment regarding which parts of the business are not being sold to the Wood Group???? I thought is was all of it - lock stock and barrel - but apparently not? Maybe that's why the share price keeps changing if bits are being taken out of the sale.
By batteryman15

Re: Wood Group take-over... by Kenj2

  Wed, 12 Apr 2017 18:28:00 GMT
"can someone please explain why the share price is not stable at around 564p which was the takeover price? Or at least 75% of the Wood Group price (724 * 0.75 = 543p at the time of writing)? "

Crossman1, a reason for this price disparity became evident to me yesterday when I took a look at Wood Groups details. Wood Group are paying a 22.5 US cents dividend to anyone holding shares on 6th April. Currently that is 18.2p, so WG shares should trade at 18p above your calculated value until the shares went ex divi on the 6th April.

However, that 18p margin has now passed, but today's calculations are even more out of sync.
Wood Group = 828.5p so AMFW should be (828.5 * 0.75 = 621.4p)

Today's AMFW closing price = 584p
By Kenj2

Re: Wood Group take-over... by Crossman1

  Wed, 12 Apr 2017 10:20:00 GMT
Looks like it was a good call...I had bought some more at 555 when it slipped, now wish I'd gone further and bought when it went sub 520 too!

Not sure how far it will go but WG just upgraded by Numis to 929...0.75 of that is 696. Currently 820...0.75 is 615, so maybe it should break 600 at some point?
By Crossman1