Shaw Group (SHAW) Peers on Watch Following CB&I's (CBI) $46/Share Deal (FLR) (JEC) (URS)
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Following the announcement earlier that CB&I (NYSE: CBI) will acquire The Shaw Group (NYSE: SHAW) for $46 per share -- a 72.4 percent premium from last Friday's close at $26.69 -- traders are watching sector peers and competitors for any movement.
CB&I said it would pay a combination of $41 in cash and 0.12883 in stock, valuing the deal at $1.9 billion, or enterprise value of $2.0 billion.
Peers on watch include: Fluor Corporation (NYSE: FLR), URS Corporation (NYSE: URS), KBR, Inc. (NYSE: KBR), Jacobs Engineering Group, Inc. (NYSE: JEC), AECOM (NYSE: ACM), and TetraTech, Inc (Nasdaq: TTEK).
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CB&I said it would pay a combination of $41 in cash and 0.12883 in stock, valuing the deal at $1.9 billion, or enterprise value of $2.0 billion.
Peers on watch include: Fluor Corporation (NYSE: FLR), URS Corporation (NYSE: URS), KBR, Inc. (NYSE: KBR), Jacobs Engineering Group, Inc. (NYSE: JEC), AECOM (NYSE: ACM), and TetraTech, Inc (Nasdaq: TTEK).
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