Downer EDI reveals that talks with Amec broke down over its all-share offer for the company
Amec rebuffed an offer from Australian rival Downer EDI earlier this year, it was revealed today.
Downer EDI said in its AGM statement that it had made an offer for Amec after the UK based construction services company sold Spie, its French subsidiary.
It is understood that talks broke down because Downer EDI offered an all-share bid rather than cash.
Downer EDI was considering an all-share bid for AMEC but talks broke down
Stephen Downer, managing director of Downer EDI, also said it was pursuing a UK road maintenance company. Initial rumours centre on Mouchel Parkman.
Amec is conducting a review of its business which is expected to result in the sale of construction division in order to focus on energy and nuclear services. The review is being carried out by new chief executive Samir Brikho who joined the organisation last month.