McDermott and CB&I combination proceeding
Published by Callum O'Reilly,
Senior Editor
Hydrocarbon Engineering,
McDermott International Inc. and CB&I have announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to their proposed combination.
As previously announced on in December 2017, McDermott and CB&I have agreed to combine in an all-stock transaction to create a premier fully vertically integrated onshore-offshore company with an enterprise value of approximately US$6 billion.
Under the terms of the proposed combination, McDermott stockholders will own approximately 53% of the combined company on a fully diluted basis and CB&I shareholders will own approximately 47%.
The combination remains subject to regulatory clearance in Russia, approval by McDermott’s and CB&I’s shareholders, completion of financing and other closing conditions.
Read the article online at: https://www.hydrocarbonengineering.com/refining/26012018/mcdermott-and-cbi-combination-proceeding/
You might also like
The Hydrocarbon Engineering Podcast - Insights into the UN Global Plastics Treaty negotiations
In this episode of the Hydrocarbon Engineering Podcast, Rob Benedict, Vice President, Petrochemicals and Midstream, American Fuel & Petrochemical Manufacturers (AFPM), discusses the outcomes of the final round of UN negotiations for a Global Plastics Treaty.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.
