UK-based global engineer AMEC says it reached agreement on Jan. 13 to acquire contractor Foster Wheeler AG in an estimated $3.2-billion stock-and-cash deal that would be the industry's largest since contractor CB&I moved in 2012 to purchase The Shaw Group Inc. That transaction was completed last year.
The latest deal would be a culmination of both firms' hunt for a strategic partner to expand corporate reach geographically and deeper into the oil-and-gas sector.