Mcdermott Board Of Directors Rejects Unsolicited, Non-Binding Proposal From Subsea 7 [Reuters]
MCDERMOTT INTL (MDR)
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Source: Reuters
Subsea 7 SA (SUBCY.PK) Key Developments | Reuters.com April 23 (Reuters) - McDermott International Inc ::MCDERMOTT BOARD OF DIRECTORS REJECTS UNSOLICITED, NON-BINDING PROPOSAL FROM SUBSEA 7.MCDERMOTT INTERNATIONAL - BOARD CONCLUDED THAT SUBSEA 7 PROPOSAL WAS NOT IN BEST INTERESTS OF CO AS IT "SIGNIFICANTLY UNDERVALUED MCDERMOTT".MCDERMOTT INTERNATIONAL - BOARD REAFFIRMED ITS RECOMMENDATION THAT MCDERMOTT STOCKHOLDERS SUPPORT TRANSACTION WITH CB&I.MCDERMOTT INTERNATIONAL - COMBINATION WITH CB&I EXPECTED TO CLOSE IN MAY 2018.MCDERMOTT INTERNATIONAL SAYS BOARD ALSO CONCLUDED SUBSEA 7 PROPOSAL WAS "NOT AN ATTRACTIVE ALTERNATIVE TO PROPOSED COMBINATION WITH CB&I". Reuters, the news and media division of Thomson Reuters , is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and
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