TECHNIP & FMC MERGER: $20 BLN
France's Technip announced an all-stock merger with U.S. rival FMC Technologies to create an oil services group with combined revenue of $20 billion.
The transaction is expected to deliver annual pretax savings of at least $400 million as of 2019 and boost earnings per share significantly, the companies said in a statement on Thursday.
"We have complementary skills, technologies and capabilities," Technip Chairman and Chief Executive Thierry Pilenko said. "Together, TechnipFMC can add more value across Subsea, Surface and Onshore/Offshore,…
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