Companies & Finance

UK competition body approves Wood Group-Foster Wheeler merger

The UK’s Competition and Markets Authority has approved a merger between Wood Group and Amec Foster Wheeler.
By Staff reporter 13 September 2017 0 27555

The UK’s Competition and Markets Authority (CMA) has approved the £2.2 billion ($2.9 billion) merger between engineering company Wood Group and engineering consultancy Amec Foster Wheeler, the CMA said in a note on Tuesday.

The authority accepted the deal after Amec Foster Wheeler agreed to sell its UK offshore business.

"It is crucial that competition is maintained in this major UK industry. We have therefore conducted a thorough investigation into this merger and believe that the sale of Amec Foster Wheeler’s assets will address our...