Monday, October 20, 2014

BVI company announced merger becoming unconditional

MDM Engineering Group Limited, the BVI company involved in the mineral process in the mining industry in Africa, provided an update on the proposed merger with Foster Wheeler M & M Limited, which is an indirect subsidiary of Foster Wheeler AG. According to the company’s announcement, all conditions precedent to the deal have now been satisfied, and the merger has become unconditional.

The merger between MDM Engineering and Foster Wheeler is expected to be implemented on 23 October 2014. Shareholders of the BVI company will receive the merger consideration of £1.70 per MDM share. Trading in MDM’s ordinary shares on AIM is expected to stop on 22 October 2014, while company’s admission to trading will be cancelled on 23 October 2014.