Price for Amec would have to top £1.2bn
Speculation suggests European rival behind bid
Amec is understood to have received a takeover approach that values the construction and infrastructure group at more than £1.2bn. The board is expected to meet today to discuss the bid from a continental European rival. The identity of the bidder was not known last night but market speculation focused on Spanish group Acciona, which has previously been tipped as a likely buyer. Shares in Amec have risen more than 10% in the past month, and they closed last night at 365.5p. At this price, Amec is valued at £1.2bn. Any bidder is expected to pay a premium to this, despite the recent increase.
