Merger Doesn't Impact Value Proposition For Chicago Bridge & Iron [Seeking Alpha]
CHICAGO BRDGE & IRON (CBI)
Last chicago brdge & iron earnings: 4/23 04:30 pm
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Source: Seeking Alpha
Merger Doesn't Impact Value Proposition For Chicago Bridge & IronSummaryChicago Bridge & Iron threw investors for a loop when they announced plans to merge with McDermott International.This will create a truly integrated E&P servicer for both onshore and offshore operations.Projected growth of onshore development combined with Chicago Bridge & Iron's potential means McDermott's shareholders should be particularly happy.If projected synergies become a reality, Chicago Bridge & Iron's investors aren't materially worse off than they were before.This creates risk for investors, but for those who believe in the transaction and subsequent management, the value proposition still very much makes sense.
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