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Foster Wheeler Takeover Of MDM Engineering Approved In South Africa(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - MDM Engineering Group Ltd Wednesday said its takeover by Foster Wheeler AG has been approved by South Africa's competition regulator, meaning the deal is a step closer to completion. MDM shareholders and the Tanzanian Fair Competition Commission both already have approved the deal, under which Foster Wheeler will pay GBP65.3 million for Johannesburg-based MDM. MDM Engineering shares will be delisted from AIM once the deal is completed. The stock was down 1.5% at 165.00 pence early Wednesday. Copyright 2014 Alliance News Limited. All Rights Reserved. |