Amec has today confirmed plans to acquire Australian engineering services company GRD.
The engineering and project management giant told the London Stock Exchange it had drawn up a conditional proposal – understood to be worth more than £50 million – to takeover the West Australian based firm.
Amec said: “GRD is an independent listed Australian engineering and development company which would complement AMEC’s operations in the mining sector.”
It said that, while discussions had taken place, the proposal “remains conditional in a number of respects including completion of due diligence and negotiating and executing a binding implementation agreement”.
“As such, there is no certainty that a formal offer will be made,” it added.
GRD said it would not comment on the deal until a binding agreement was established.