McDermott and CB&I Stockholders Approve Proposed Combination
MCDERMOTT INTL (MDR)
Last mcdermott intl earnings: 11/4 04:15 pm
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US:NYSE Investor Relations:
mcdermott-investors.com/phoenix.zhtml?c=96360&p=irol-calendar_pf
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Source: GlobeNewswire
HOUSTON and THE WOODLANDS, Texas, May 02, 2018 (GLOBE NEWSWIRE) -- McDermott International, Inc. (“McDermott”) (NYSE:MDR) and CB&I (NYSE:CBI) today announced both companies have received the necessary stockholder approvals to complete the proposed business combination. As previously announced, upon completion of the transaction, McDermott stockholders will own approximately 53 percent of the combined company on a fully diluted basis and CB&I shareholders will own approximately 47 percent of the combined company. As a result of the approval by McDermott stockholders of the 3-to-1 reverse stock split resolution, CB&I shareholders will receive 0.82407 shares of McDermott common stock for each share of CB&I common stock tendered in the exchange offer. With the receipt of these approvals, McDermott and CB&I believe that all material conditions to the co
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