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.
