SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Speculating in Takeover Targets
CTG 8.200-2.5%1:51 PM EDT

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: E_K_S who wrote (5545)9/24/2019 1:00:23 PM
From: E_K_S   of 6084
 
McDermott seeks bridge loan until asset sales - Bloomberg
Sep. 24, 2019 12:48 PM ET|About: McDermott International, Inc. (MDR)|By: Carl Surran, SA News Editor

McDermott ( MDR -6.6%) is seeking a bridge loan to cover a $1.7B working capital gap until it can sell assets such as Lummus Technology, Bloomberg reports.

MDR said last week that it recently received unsolicited approaches to acquire all or part of Lummus; based on the receipt of these approaches, MDR is exploring strategic alternatives to unlock the value of the unit.

Credit Suisse analyst Jamie Cook said MDR's Lummus announcement was considered "a last resort" but was "unfortunately needed" to improve the balance sheet.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext