Edition:
United States

McDermott International Inc (MDR.N)

MDR.N on New York Stock Exchange

6.79USD
4:03pm EDT
Change (% chg)

$-0.33 (-4.63%)
Prev Close
$7.12
Open
$6.73
Day's High
$6.99
Day's Low
$6.61
Volume
5,768,131
Avg. Vol
1,871,499
52-wk High
$9.06
52-wk Low
$5.39

Latest Key Developments (Source: Significant Developments)

Subsea 7 re-affirms its proposal to acquire McDermott
7:30am EDT 

April 25 (Reuters) - Subsea 7 Sa ::SUBSEA 7 RE-AFFIRMS ITS PROPOSAL TO ACQUIRE MCDERMOTT.SAYS IS OPEN TO CONSIDERING AMENDING ITS PROPOSAL IF IT CAN DISCOVER ADDITIONAL VALUE THROUGH DISCUSSIONS WITH MCDERMOTT MANAGEMENT TEAM.MCDERMOTT BOARD REJECTED SUBSEA 7'S UNSOLICITED OFFER WORTH ABOUT $2 BILLION ON APRIL 20 nL8N1S00VG.  Full Article

ISS Recommends CB&I Shareholders Vote "For" Proposed Transaction With McDermott
Wednesday, 18 Apr 2018 08:44am EDT 

April 18 (Reuters) - Chicago Bridge & Iron Company NV ::LEADING PROXY ADVISORY FIRM ISS RECOMMENDS CB&I SHAREHOLDERS VOTE "FOR" THE PROPOSED TRANSACTION WITH MCDERMOTT.CHICAGO BRIDGE & IRON - ISS RECOMMENDED CB&I SHAREHOLDERS VOTE "FOR" TRANSACTION WITH MCDERMOTT AT SPECIAL GENERAL MEETING OF SHAREHOLDERS ON MAY 2.  Full Article

Mcdermott International Says Amended And Restated Commitment Letter
Thursday, 5 Apr 2018 05:38pm EDT 

April 5 (Reuters) - McDermott International Inc ::MCDERMOTT INTERNATIONAL SAYS AMENDED & RESTATED COMMITMENT LETTER DATED AS OF DEC 18, 2017 - SEC FILING.MCDERMOTT INTERNATIONAL - AMENDMENT PROVIDES FOR SENIOR SECURED TERM LOAN FACILITY OF $2.260 BLN, A $1 BLN SENIOR SECURED REVOLVING CREDIT FACILITY.MCDERMOTT INTERNATIONAL -AMENDMENT ALSO PROVIDES $1.390 BLN SENIOR SECURED LETTER OF CREDIT FACILITY & SENIOR UNSECURED BRIDGE FACILITY OF $1.3 BLN.  Full Article

McDermott International Prices $1.3 Bln Of 10.625% Senior Unsecured Notes Due 2024
Wednesday, 4 Apr 2018 06:01pm EDT 

April 4 (Reuters) - McDermott International Inc ::MCDERMOTT INTERNATIONAL, INC. ANNOUNCES PRICING OF $1.3 BILLION OF 10.625% SENIOR UNSECURED NOTES DUE 2024.  Full Article

McDermott International Announces Proposed Offering Of Senior Unsecured Notes
Wednesday, 21 Mar 2018 04:30pm EDT 

March 21 (Reuters) - McDermott International Inc ::MCDERMOTT INTERNATIONAL, INC. ANNOUNCES PROPOSED OFFERING OF $950 MILLION OF SENIOR UNSECURED NOTES DUE 2024 AND $550 MILLION OF SENIOR UNSECURED NOTES DUE 2026.MCDERMOTT INTERNATIONAL INC - PROCEEDS OF OFFERING WILL BE DEPOSITED INTO A SEGREGATED ESCROW ACCOUNT.MCDERMOTT- ON SATISFACTION OF ESCROW CONDITIONS, INTENDS TO USE PROCEEDS TO PAY PART OF PRICE FOR PENDING ACQUISITION OF TECHNOLOGY OPERATIONS OF CB&I.  Full Article

Mcdermott And Cb&I Announce Conclusion Of Competition Authority Reviews For Proposed Combination
Wednesday, 14 Mar 2018 04:30pm EDT 

March 14 (Reuters) - Mcdermott International Inc ::MCDERMOTT AND CB&I ANNOUNCE CONCLUSION OF COMPETITION AUTHORITY REVIEWS FOR PROPOSED COMBINATION.MCDERMOTT INTERNATIONAL - COS HAVE RECEIVED ANTITRUST CLEARANCE IN RUSSIA FOR PROPOSED COMBINATION.MCDERMOTT INTERNATIONAL - DEAL EXPECTED TO BE COMPLETED IN Q2 2018.  Full Article

McDermott Awarded EPCC Contract For Tyra Redevelopment Project By Maersk Oil
Friday, 22 Dec 2017 07:55am EST 

Dec 22 (Reuters) - McDermott International Inc ::MCDERMOTT AWARDED EPCC CONTRACT FOR TYRA REDEVELOPMENT PROJECT BY MAERSK OIL.MCDERMOTT INTERNATIONAL - WORK ON CONTRACT IS EXPECTED TO BEGIN EARLY NEXT YEAR & LUMP SUM CONTRACT WILL BE REFLECTED IN CO'S Q4 2017 BACKLOG.MCDERMOTT INTERNATIONAL INC - SCHEDULED TO COMPLETE WORK PACKAGES FOR SAIL-AWAY BY FEB 1, 2020 & FEB 1, 2021.MCDERMOTT INTERNATIONAL- CO TO PROVIDE ENGINEERING, PROCUREMENT, CONSTRUCTION FOR 2 SEPARATE WORK PACKAGES FOR MAERSK OIL IN REDEVELOPMENT PROJECT.  Full Article

Mcdermott International Says In Case Of Termination Of Deal With Cb&I Under Certain Specified Circumstances, Co To Pay Cb&I Termination Fee Of $60 Mln
Monday, 18 Dec 2017 05:25pm EST 

Dec 18 (Reuters) - Chicago Bridge & Iron Company Nv ::MCDERMOTT INTERNATIONAL- IN CASE OF TERMINATION OF DEAL WITH CB&I UNDER CERTAIN SPECIFIED CIRCUMSTANCES, CO TO PAY CB&I TERMINATION FEE OF $60 MILLION.  Full Article

Mcdermott And CB&I To Combine In Transaction Valued At $6 BLN
Monday, 18 Dec 2017 04:15pm EST 

Dec 18 (Reuters) - Mcdermott International Inc ::MCDERMOTT AND CB&I TO COMBINE IN TRANSACTION VALUED AT $6 BILLION.MCDERMOTT INTERNATIONAL INC - MCDERMOTT SHAREHOLDERS TO OWN 53% AND CB&I SHAREHOLDERS TO OWN 47% OF COMBINED COMPANY.MCDERMOTT INTERNATIONAL - COMBINED CO TO HAVE COMBINED REVENUES OF APPROXIMATELY $10 BILLION AND BACKLOG OF APPROXIMATELY $14.5 BILLION.MCDERMOTT INTERNATIONAL - CB&I SHAREHOLDERS TO BE ENTITLED TO RECEIVE 2.47221 SHARES OF CO STOCK FOR EACH SHARE OF CB&I COMMON STOCK OWNED.MCDERMOTT INTERNATIONAL - DEAL IS EXPECTED TO BE CASH ACCRETIVE, EXCLUDING ONE-TIME COSTS, WITHIN FIRST YEAR AFTER CLOSING.MCDERMOTT INTERNATIONAL INC - DEAL ALSO EXPECTED TO GENERATE ANNUALIZED COST SYNERGIES OF $250 MILLION IN 2019.MCDERMOTT INTERNATIONAL INC - ANNUALIZED COST SYNERGIES OF $250 MILLION EXPECTED IN 2019 FROM DEAL.MCDERMOTT INTERNATIONAL - DAVID DICKSON, CURRENT PRESIDENT AND CEO OF MCDERMOTT, WILL BE PRESIDENT AND CEO OF COMBINED CO.MCDERMOTT INTERNATIONAL - STUART SPENCE, CURRENT CFO OF MCDERMOTT, WILL BE CHIEF FINANCIAL OFFICER OF COMBINED COMPANY.MCDERMOTT INTERNATIONAL INC - BOARD OF DIRECTORS OF COMBINED CO WILL BE COMPRISED OF 11 MEMBERS, INCLUDING 10 INDEPENDENT DIRECTORS AND DAVID DICKSON.MCDERMOTT INTERNATIONAL INC - COMBINED CO HAS SECURED ABOUT $6 BILLION OF FULLY-COMMITTED FINANCING, LED BY BARCLAYS, CREDIT AGRICOLE CIB & GOLDMAN SACHS.MCDERMOTT INTERNATIONAL INC - TRANSACTION HAS BEEN APPROVED BY BOARDS OF BOTH COMPANIES.  Full Article

McDermott awarded major EPCI contract in Middle East
Thursday, 9 Nov 2017 04:30pm EST 

Nov 9 (Reuters) - McDermott International Inc :McDermott awarded major EPCI contract in Middle East.McDermott International Inc - ‍work on contract is expected to begin immediately and will be reflected in McDermott's Q4 2017 backlog​.  Full Article