for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Mergers News

BRIEF-Subsea 7 withdraws bid for McDermott

May 2 (Reuters) - Subsea 7 Sa:

* SUBSEA 7 WITHDRAWS ITS PROPOSAL TO ACQUIRE MCDERMOTT

* IN LIGHT OF THIS VOTE, SUBSEA 7 CONFIRMS THAT PROPOSAL MADE TO MCDERMOTT’S BOARD OF DIRECTORS ON APRIL 17 AND PUBLISHED ON APRIL 23 IS NO LONGER VALID

* WILL CONTINUE TO INVEST IN ALTERNATIVE ROUTES TO GROW AND STRENGTHEN ITS BUSINESS WORLDWIDE, WITH A FOCUS ON DIFFERENTIATION THROUGH ITS MARKET LEADING CAPABILITIES AND ENABLING TECHNOLOGY Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up