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March 13 (Reuters) - Oilfield services firm John Wood Group said on Monday it proposed to buy smaller peer Amec Foster Wheeler for a recommended all-share offer valued at about 2.2 bln pounds ($2.69 billion).
The all-stock deal for 5.64 pounds per share represents a 15.3 percent premium to Amec Foster's Friday close of 489.2 pence.
Amec Foster shareholders will receive 0.75 of new Wood Group share for each share held, the company said. ($1 = 0.8184 pounds) (Reporting by Justin George Varghese in Bengaluru; Editing by Gopakumar Warrier)