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McDermott details reverse stock split, CB&I exchange offer

Published 05/10/2018, 09:31 AM
© Reuters.  McDermott details reverse stock split, CB&I exchange offer
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  • McDermott (MDR +0.7%) has completed the 3-to-1 reverse split of its common stock, meaning three shares of MDR were automatically combined into one.
  • The company's exchange offer for CB&I (CBI -0.6%) common stock has also gone into effect, a deal that saw a total of approximately 66.7M shares of CB&I common stock validly tendered and not withdrawn, representing approximately 65% of the common shares of CB&I outstanding.
  • All CB&I shares that were validly tendered and not withdrawn have been accepted for payment in accordance with the terms of the exchange offer.
  • Now read: Array BioPharma slips 3% premarket after Roche's unsuccessful late-state CRC study


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