Dec 19 Chicago Bridge and Iron Co NV
said on Wednesday its shareholders approved the company's
proposed takeover of U.S. engineering company Shaw Group Inc
Doubts about the $3 billion deal surfaced after it was
announced in July, with some investors concerned about its
provisions and the motivation of Shaw founder and Chief
Executive James Bernhard.
One fund, Denali Investors, accuses Bernhard of conflict of
The deal with Shaw is expected to close in the first quarter
of 2013, CB&I said, adding that over 90 percent voted in favor
of the deal.
Shaw's shareholders will vote on the takeover on Friday in
Louisiana. Any deal requires the support of 75 percent of Shaw's
CB&I forecast profit of between $3.35 and $3.65 per share on
revenue of $6.3 billion to $6.7 billion for 2013.
Analysts on average were expecting a profit of $3.45 per
share on revenue of $6.24 billion, according to Thomson Reuters
The company said the forecast excludes Shaw results and