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Analyzing McDermott International’s Returns on April 24

Alex Chamberlin
Analyzing McDermott International’s Returns on April 24

On April 23, McDermott International (MDR) stock jumped nearly 16%. McDermott International rejected Subsea 7’s offer to acquire the company for $7.00 per share. McDermott International has been in negotiations with Chicago Bridge & Iron Company (CBI) since December 18, 2017, for a business combination. The proposed transaction aims to combine a fully vertically integrated onshore-offshore company, with an engineering, procurement, construction, and installation service offering. ...