McDermott (MDR) Tops Q1 EPS by 12c, Miss on Revenues; Offers FY18 EPS Mid-Point Outlook Below Consensus, FY18 Revenue Mid-Point Outlook Above Consensus
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Go back to McDermott (MDR) Tops Q1 EPS by 12c, Miss on Revenues; Offers FY18 EPS Mid-Point Outlook Below Consensus, FY18 Revenue Mid-Point Outlook Above Consensus
April 23, 2018 9:06 AM EDT
McDermott International, Inc. (McDermott or the Company) (NYSE: MDR) today confirmed that on April 20, 2018 its Board of Directors rejected an unsolicited, non-binding proposal received from Subsea 7 S.A. (Subsea 7) (Oslo Børs: SUBC, ADR: SUBCY) on April 17, 2018 to acquire all of the outstanding shares of McDermott common stock for USD 7.00 per share, payable entirely in cash or up to 50 percent in Subsea 7 stock and the balance in cash. The proposal was subject to, among other things, the completion of due diligence, the termination of McDermotts... More
April 23, 2018 8:53 AM EDT
Chicago Bridge & Iron (NYSE: CBI) shares are down 16.7% after merger partner McDermott International, Inc. (NYSE: MDR) received a $7/share takeover proposal from Subsea 7 S.A..
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April 23, 2018 6:28 AM EDT
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) confirms that it made a proposal(1) to the Board of Directors of McDermott International, Inc. (NYSE: MDR) on April 17, 2018 to acquire the entire issued share capital of McDermott.
Subsea 7 proposed to acquire McDermott common stock for USD 7.00 per share, payable entirely in cash or up to 50% in Subsea 7 stock and the balance in cash. This proposal represents a premium of 16% to the latest closing share price of McDermott on April 20, 2018 and a premium of 15% over the volume weighted average share price of McDermott... More
