McDermott-CB&I merger clears U.S. antitrust hurdle

|About: McDermott International, Inc. (MDR)|By:, SA News Editor

The planned $6B merger of McDermott International (NYSE:MDR) and Chicago Bridge & Iron (NYSE:CBI) clears an antitrust hurdle, as the U.S. Federal Trade Commission granted early termination of a required waiting period.

The Hart-Scott-Rodino Act of 1976 establishes waiting periods that typically must elapse in order for a merger to be assessed for its impact on market competition.

The proposed tie-up now only needs approval for the shareholders of the two companies, completion of financing and some other conditions, and regulatory clearance in Russia.

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