Oil services tie-up

tHe £2.2bn takeover of Amec Foster Wheeler by Wood group has received the green light from the competition watchdog.

the Competition and Markets Authority said on tuesday it has accepted remedies put forward by the firms, which include Amec offering to sell a number of assets. the watchdog had expressed concerns that the deal gave rise to competition concerns surrounding the supply of engineering and construction services, as well as operation and maintenance services in the north Sea.

But the deal is now expected to complete in October.