AMEC to Acquire Foster Wheeler for $16.00/Share in Cash Plus 0.8998 Shares of AMEC Stock

Foster Wheeler AG

today announced that it has entered into a definitive agreement with AMEC plc

pursuant to which AMEC will make an offer to acquire all the issued and to be issued share capital of the Company. Under the terms of the offer, AMEC will offer to exchange for each outstanding share of Foster Wheeler common stock transaction consideration consisting of 0.8998 shares of AMEC stock and $16.00 in cash. Separately, Foster Wheeler expects to pay a one-time dividend of $0.40 per share prior to, and not conditional on, the closing of the offer. The Company expects that there will be no Swiss withholding taxes on the dividend.