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British engineer Amec eyeing Foster Wheeler takeover -report

Reuters - UK Focus

Nov 27 (Reuters) - British engineer Amec (Other OTC: AMCBF - news) is eyeing a takeover of U.S.-listed engineering company Foster Wheeler AG (NasdaqGS: FWLT - news) in a potential deal that could create a 5 billion pound ($8 billion) energy services group, The Times reported on Wednesday, citing sources.

The Times said Amec, which provides services and equipment for the oil and gas, mining, nuclear and renewable energy sectors, has appointed Goldman Sachs (NYSE: GS-PB - news) to advise it on a potential deal.

A spokesman for Amec declined to comment.

Foster Wheeler could not immediately be reached outside regular business hours.

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Switzerland-based Foster Wheeler, valued at $2.83 billion, operates through its engineering and construction business and its power business.

The Times cited sources who said that Amec and Foster Wheeler may have held talks in the past but were not engaged in discussions currently.

Amec, a FTSE 100 company, said in August it was looking to make acquisitions in the oil and gas sector.