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Non-Tech : The SHAW Group
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To: Howard G. who wrote (235)5/6/1998 8:33:00 AM
From: Greg h2o   of 291
 
I haven't heard when they believe the acquisition of Bagwell will be accretive to earnings. At this point, I'd have to believe they wouldn't be buying anything that would remain dilutive to earnings for more than 12 months.

As to whether or not it will be dilutive to the outstanding shareholders....again, I'm not positive, but SGR has a track record of buying assets at reasonable prices. I can't imagine it being too dilutive. My thoughts are they are getting increasing contracts in the oil and gas segment and they NEEDED to buy Bagwell, but I would contend they have historically made good strategic acquisitions. Even though the oil service stocks have been battered quite a bit over the last 6-8months, there continues to be increased activity in this arena. Again, I haven't seen all of the numbers, but I am aware of a great deal of increased activity from Chevron and Exxon (I seem to recall they are both building at least one new refinery at the present time) in Louisiana, so I think they'll utilize the capacity very quickly.

regards,
greg
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