McDermott receives offers to sell tech unit Lummus for over $2.5B

McDermott International has received offers to sell its Lummus Technology business. The oilfield services company said the valuation of the tech business exceeded $2.5 billion.

“Based on the receipt of these approaches, McDermott is exploring strategic alternatives to unlock the value of Lummus Technology while maintaining the strategic rationale of engineering, procurement and construction (EPC) pull-through,” McDermott said.

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