McDermott International, Inc.NYSE
Aug. 12, 2013, 10:38 AM
- MdDermott (MDR +6.6%) powers higher as Bloomberg discusses the offshore oilfield construction company as a potential takeover target.
- MDR has shed 47% in six months amid cost overruns at projects off of Malaysia and Saudi Arabia, leaving it trading at its liquidation value, and analysts say it's now vulnerable to being scooped up by rivals tempted by the still-strong brand and manufacturing operations near large crude producers.
- MDR's fleet of offshore vessels for installing heavy pipelines could appeal to competitors Technip (TNHPF.PK) and Saipem (SAPMY.PK), and perhaps to more traditional engineering and construction companies such as KBR and Foster Wheeler (FWLT).
Nov. 16, 2011, 10:52 AM