Kentz success in fending off takeover approaches
AN OIL and gas engineering group is to keep its independence after fighting off takeover interest from British and German rivals.
Kentz Corporation, which employs 14,500 people in 30 countries, has been the subject of a £690m bid approach from engineering giant Amec and a lower offer from Stuttgart-based M+W Group.
Having rejected both approaches last month, Kentz said yesterday that M+W had followed London-based Amec, which has an office in Leeds, in walking away from a possible offer for the FTSE 250 company. Kentz spans oil and gas, chemicals, mining and metals. It works on small to medium-sized projects from bases across the globe.