CB&I COMPLETES SHAW ACQUISITION

CB&I yesterday announced completion of its acquisition of The Shaw Group, which was approved by shareholders of both companies in December. CB&I announced in late July its plan to purchase Shaw in estimated to be worth about $3 billion. The acquisition involved CB&I paying about $46.00 per share of Shaw stock, which consisted of $41.00 in cash and $5.00 in CB&I equity. “We are extremely pleased that the transaction to acquire Shaw is officially complete and we thank the shareholders for their support,” CB&I President and CEO Philip K. Asherman said in a statement. “With the close of the transaction, CB&I is the most complete energy infrastructure focused company in the world.”

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