Looks like they are cleaning their books before they are sold and I guess no one really cares. It will be interesting to see what tAMEC does with the power business. My guess is that they will look to sell within the year...But agiab=n for us investors who really cares???
Can not tell anything until the 22 of Febuary. You just know you are going to get screwed if the Company says no other bids until 22nf of Febuary, who they working for anyways.
Funds are cashing in their 35% gains for 2013 and liquidating positions in FWLT.
With the buyout imminent and capped upside they used yesterday's sell-off to cash up and move money into more attractive equities.
They must not expect the $32.40 offer to be challenged. Which means FWLT is dead money now.
LSE:AMEC down 2.5% today, and since this is only 1/2 cash deal, FWLT is being pulled down by AMEC.
Get ready to trade on the LSE, folks, cause that's the only place where our future AMEC stock is listed.
Moody's is set to downgrade credit ratings on a buyout.
@@@@Moody's views this potential transaction as credit negative for Foster Wheeler since the cash component of the purchase price is expected to be largely financed by debt. The added debt would be meaningful considering the low debt balances and relatively strong credit profiles of AMEC and Foster Wheeler currently. Moody's will monitor the likelihood of an actual definitive agreement being signed and comment on any potential rating actions at that time.
What is really strange is where is closed today... 31.13? That's way off the deal price of ~32.40. I guess the street is not impressed with this deal huh...
Anyone watch the Frontline piece "How to catch a Trader" Great piece on Steve Cohen and SAC. I can bet Citadel has the same networks in place to get information.
I bet if you dig around you can find the inside info on a takeover passed to SAC and Citadel. SEC/FBI are you there?