Both sides of the pounds 200 million takeover bid by shipbuilding giant
Kvaerner, for the construction group Amec, have hired heavyweight
political advisers, it emerged this week.
Norwegian shipbuilder and engineer Kvaerner is understood to have
recruited lobbying firm GJW.
And a source close to Manchester-based construction group Amec revealed
that it is using Sir Tim Bell’s Lowe Bell Communications for ‘strategic
The two advisers have faced each other on a number of deals in the
utilities sector, including Trafalgar House’s bid for Northern
Electricity, Southern Electricity International’s bid for SWEB and the
battle for control of Norweb between North West Water and Texas Energy
Partners. Each one is estimated to have earned the firms between pounds
100,000 and pounds 125,000 each, plus the same again in success fees.
On the financial PR front Kvaerner and Amec are sticking with their
Amec, whose defence strategy was battered on Monday when a pounds 100
million bid for Alfred McAlpine was rejected, is being advised by
Financial Dynamics, which it has used for the past 10 years.
Kvaerner is using Keith McDowall Associates, which it has worked with
Speculation over Kvaerner’s Amec bid began last week when it snapped up
10 per cent of Amec’s shares.