British multinational Amec Plc is eyeing a takeover of US-listed engineering company Foster Wheeler AG, The Times reported on Wednesday. The potential deal could bring in GBP5 billion (USD8 billion) to the Swiss conglomerate.
Reuters, citing a report by the British news daily, said that Amec appointed Goldman Sachs to advise it on the potential deal.
Geneva-based Foster Wheeler currently has a valuation of USD2.83 billion, the report said.
The company focuses on the engineering, procurement,construction industry and the electrical power equipment industry. It was listed in NASDAQ-100 in 2007, according to its website.
The Times sources said that Amec and Foster Wheeler may have held talks in the past but were not engaged in discussions currently.
Amec is a FTSE 100 company providing consultancy, engineering and project management services, its website said. Based on its geographical analysis, roughly a third of its turnover comes from Europe, half from North America and the rest from at least 40 countries where it operates.
Amec in August announced that it was looking to make acquisitions in the oil and gas sector.
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