Companies & Finance

McDermott International rejects Subsea 7’s takeover bid

McDermott International has rebuffed an unsolicited attempt by UK-listed Subsea 7 to acquire its listed capital.
By Staff reporter 24 April 2018 0 30577

United States-based engineering and construction company McDermott International has rebuffed an unsolicited attempt by UK-listed Subsea 7 to acquire its listed capital for $7 per share, which would value McDermott at more than $2 billion.

If successful, the deal would make the combined entity the dominant player in the provision of subsea oil and gas equipment, with a 24% market share.