Wood Group said yesterday it had got the go-ahead for an American acquisition which could cost more than £100million.
Wood has received anti-trust approval from the US Federal Trade Commission for the deal for Mitchell’s Oil Field Services.
The takeover of the American business is now expected to complete by Monday, October 22.
Wood said in September it was buying Mitchell’s for an initial £83million, extending its reach into North America’s shale industry. The deal could be worth up to £112.2million, because of further payments linked to future performance.
Mitchell’s is owned by Stone Arch Capital, a US private-equity group, and management.