Mining offer

London-based engineering group

has made a cash offer of approximately A$106m (£52m) to acquire Australian mining services company

.

Earlier this week, GRD said it had received a proposal from Amec for the acquisition of all of the shares in GRD for a cash offer of A$0.55 per share.

Amec has confirmed the proposal and stated that the deal would complement its operations in the mining sector.

According to GRD, the proposal is conditional and negotiations are ongoing, however, the group said it would make no further announcements about the deal until a binding agreement has been made.