Another proxy advisor presses for McDermott-CB&I merger

Meanwhile, in an unexpected turn of events on Monday, another engineering giant, the UK-based Subsea 7, offered to take over the entire issued share capital of McDermott. Subsea 7 proposed to acquire McDermott common stock for $7 per share, payable entirely in cash or up to 50% in Subsea 7 stock and the balance in cash.

Read more