McDermott and CB&I have agreed to merge in an all-stock transaction to create an integrated onshore-offshore company, with a broad engineering, procurement, construction and installation (“EPCI”) service offering.
Upon completion of the transaction, McDermott shareholders will own approximately 53 percent of the combined company on a fully diluted basis and CB&I shareholders will own approximately 47 percent.
The estimated enterprise value of the transaction is approximately $6 billion, based on the closing share price of McDermott on December 15, 2017.
Brazil Energy Insight 
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