Global Industries, Ltd./Technip
On September 12, 2011, Global Industries, Ltd. (Nasdaq: GLBL) entered into a definitive merger agreement with Technip under which Technip will acquire Global for $8.00 per share in an all cash merger.
The transaction values Global at an enterprise value of approximately $1,073 million, including Global's approximately $136 million of net debt.
Global expects the transaction to be completed in early 2012. The management teams of Global and Technip expect to work closely together to develop an integration plan.
Simmons & Company International is acting as financial advisor and Vinson & Elkins LLP is acting as legal advisor to Global. Simmons & Company has delivered a fairness opinion to the Global Board of Directors in connection with their approval of the transaction based upon and subject to the assumptions set forth in the opinion.
The transaction values Global at an enterprise value of approximately $1,073 million, including Global's approximately $136 million of net debt.
Global expects the transaction to be completed in early 2012. The management teams of Global and Technip expect to work closely together to develop an integration plan.
Simmons & Company International is acting as financial advisor and Vinson & Elkins LLP is acting as legal advisor to Global. Simmons & Company has delivered a fairness opinion to the Global Board of Directors in connection with their approval of the transaction based upon and subject to the assumptions set forth in the opinion.
