Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

ULBI 6.970

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9:30 AM EST

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To: E_K_S who wrote (5540)	9/20/2019 8:53:29 AM
From: E_K_S	Read Replies (1) of 7239

McDermott to explore sale of Lummus Technology business; shares +75% Sep. 20, 2019 7:30 AM ET\|About: McDermott International, Inc. (MDR)\|By: Carl Surran, SA News Editor McDermott (NYSE: MDR) +75.9% pre-market after saying it is exploring strategic alternatives for its Lummus Technology unit, which it values at ~$2.5B, after receiving unsolicited approaches to acquire all or part of the business. Lummus is a licensor of proprietary petrochemicals, refining, gasification and gas processing technologies. MDR says it has hired Evercore as the lead advisor on the strategic alternatives process for Lummus. MDR shares have plummeted 73% in two day on bankruptcy fears.

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