Subsea 7 Makes Hostile Bid for McDermott
, the company has said.Two proxy advisory firms, Institutional Shareholder Services Inc. and Glass, Lewis & Co., LLC have recommended that CB&I shareholders vote for the McDermott offer.Some of McDermott's shareholders, however, have opposed the deal, citing CB&I's latest performance.BlackRock Inc, the world's largest asset manager, is the top shareholder in McDermott with a 12 percent stake."It's a very well played offer from Subsea 7. Timing wise, it gives enough time for McDermott management to consider alternatives before the May 2 vote," Carnegie analyst Frederik
Acoustic Technology Aids Search for Downed Helicopter
the exact location of the wreck which was lying in 40 meters of water. Rescue 116, a Sikorsky S92 search and rescue helicopter operated by Canadian Helicopter corporation (CHC) on behalf of the Irish Coast Guard, disappeared from radar screens at 12.46am on March 14th in the vicinity of Blackrock, an isolated rocky islet. As part of the emergency response, Ireland’s Air Accident Investigation Unit (AAIU), together with the Irish Coast Guard, requested equipment and personnel from the Marine Institute to assist with the initial search for the wreckage. This included the Scout
Private Equity Firms Double down on Venari's Offshore Drilling
Gulf of Mexico deepwater oil explorer Venari Resources LLC said on Wednesday it had raised $1.3 billion from original backers Warburg Pincus LLC, Kelso & Co, the Jordan Company and Temasek Holdings, as well as new investors. GIC, Singapore's sovereign wealth fund, and BlackRock Inc's private equity arm participated in the new round of equity commitments, joining private equity firms Warburg Pincus, Kelso and Jordan, as well as Singapore state-owned investment firm Temasek. The four original investors formed Venari in 2012 with $1.1 billion in equity commitments. The new funds will be used to
February 2024
