SOMETHING SERIOUS IS GOING ON!!!!! YEAH BABE .. OFF COURSE THEY DENY IT
16:52 EDT FWLT Source: Petrofac not interested in acquiring Foster Wheeler, Reuters says
A source familiar with the British oil services group Petrofac said the company is not interested in acquiring engineering company Foster Wheeler, says Reuters. Earlier in the day, Britain's Sunday Times reported tha Petrofac had entered the bidding to buy Foster Wheeler, setting up a possible bid battle against Amec, adds Reuters. Reference Link
Maybe they are not interested in the sense that they are not currently interested, because they already know they cannot make it happen at the moment. Though larger than foster and amex, petrofac has declined recently and its recent plunge decline may make the company unable to sensibly pay through stock. A deal today may cost 20% more than it could have this summer or fall.
Now two companies denying they are interested in buying FWLT - I say where there's smoke, there's fire - and of course they're not going to admit anything until somebody make the first offer in public, they're both trying to avoid a bidding war.