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
Hydrocarbon Engineering Podcast
Peter Davidson, CEO of the Tank Storage Association (TSA), joins us to discuss the essential role that the tank storage sector has to play in ensuring supply security and resilience, as well as in facilitating the energy transition.
Gujarat State Petronet Ltd (GSPL) commissions Chhara Gas Pipeline
A natural gas pipeline connecting the Greenfield 5 million tpy LNG regasification terminal at Chhara in the Gir-Somnath district with the gas grid was commissioned on 20 March 2025.
