13 February 2013 16:19 [Source: ICIS news]
HOUSTON (ICIS)--US energy and petrochemicals engineering firm CB&I said on Tuesday it has completed the acquisition of The Shaw Group in a deal valued at about $2.0bn (€1.5bn).
Announced in July and approved by CB&I shareholders in December, the company will offer $46/share to Shaw shareholders for a 72% premium to Shaw’s price on 27 July, the last trading day before the agreement.
“Through our now 50,000 talented employees, we have the capabilities and the expertise to provide our clients with a world of solutions, and a tremendous strategic advantage in responding to the growing demand for energy infrastructure around the globe,” said Philip Asherman, president and CEO of CB&I.
Additional reporting by Stefan Baumgarten and Graeme Paterson
($1 = €0.74)
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