Sellafield and BAE partner takeover gets final go-ahead
A £2.2bn takeover of a company which employs almost 300 people in Cumbria has cleared its final hurdle.
Engineering services firm Amec Foster Wheeler - which has offices in Westlakes Science & Technology Park, near Whitehaven, and at Sellafield, as well as staff based at the BAE Systems submarine yard in Barrow - is now set to merge with Aberdeen-based Wood Group, listed on the London Stock Exchange as John Wood plc.
This deal was approved by the Competition and Markets Authority approved the deal last month and the High Court of England & Wales has now sanctioned its scheme of arrangement.
John Wood will fold Amec Foster Wheeler into its business.
Shares in Amec Foster Wheeler will delist on Monday and the scheme will become effective on Friday.
Investors will receive three quarters of a John Wood share for every whole share they hold in Amec Foster Wheeler.