A major engineering company has reportedly been the subject of two takeover bids from rival firms in recent days, with the prospect of a deal still looming over the industry. Shares in Kentz have risen by almost 25 per cent day after news of interest in it broke, with fellow London organisation Amec known to be one of those interested in sealing a takeover of the business. Amec is said to have made a bid of between 565p and 580p per share for Kentz, which has been rejected. It is suggested that German construction body M+W has also discussed the possibility of launching a bid for Kentz. However, its approach has also been rebuffed as it is believed it valued the company even lower than Amec did in its offer. Kentz boasts a number of oil, gas and mining infrastructure projects in its portfolio, making it one of the leading companies in its field in the world. It employs about 14,500 people and has a market capitalisation of roughly £700 million. Dougie Youngson of VSA Capital told the Evening Standard: "If a deal was to go ahead at anything less than 700p, we would regard it as a very cheap acquisition." Experts believe such a figure would value Kentz at approximately £820 million in total, some way ahead of the £680 million figure that Amec's bid puts it at. It remains to be seen whether either of the interested parties to date will return to the bidding table with an improved offer that might make a deal more likely. Should a significant takeover occur in the engineering sector, it could be good news for all those who wish to secure a job within it or carry out major infrastructure projects, which can be completed by a newly-strengthened major firm. Negotiations could now continue as speculation over a potential takeover heats up and the engineering sector waits for further news on one of its most significant players.
After recent events in the UK political scene, many have forecasted a decline in the economic performance of the UK industry starting in 2017. Are the March figures demonstrating this yet? Anglo studies some of the most reliable industry reports from IHS Markit in an attempt to answer this critical
In celebration of the International Women’s Day, Anglo Technical has decided to make a quick overview of the position of women in the workplace and in engineering, in the UK and worldwide. Over the past few decades, women have proven they are able to engage in lots of activities that
On Thursday 6th of April 2017, new UK Government IR35 legislation finally kicks in for Public Sector LTD company contractors or as HMRC like to call it “Personal Service Company (PSC)” contractors. It has already caused a shift in the amount of LTD company contractors currently