International engineering company AMEC announced it was in discussions to buy Serco's nuclear Technical Consulting Services (TCS) business.
TCS works primarily with the UK civil and defence nuclear markets and has annual revenues of approximately £70m.
The deal was confirmed in a separate announcement by FTSE 100 Serco, although neither firm revealed how much the deal might be worth.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Both added that there was no certainty that the transaction would go ahead and said a further announcement would be made in due course.
AMEC is riding high on the back of a strong order book and said in April that it expected to deliver double-digit underlying revenue growth in 2012.
A strong first quarter of 2012 led some analysts to forecast that the firm would seek not only bolt-on acquisitions, but also 'transformational opportunities' this year.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
