McDermott Int'l Weighs Options For $2.5B Lummus Tech Biz

Law360 (September 20, 2019, 12:46 PM EDT) -- McDermott International Inc. said Friday that it has received unsolicited takeover interest for its Lummus Technology business, which could be worth more than $2.5 billion in a deal, and the Houston-based engineering and construction company is mulling whether to sell the unit.

In the wake of the approaches, McDermott is "exploring strategic alternatives" for Lummus, which licenses proprietary technologies used in the markets for petrochemicals, refining, gasification and gas processing, according to a statement. The potential suitors, the identities of which were not disclosed, have expressed interest in buying part or all of Lummus. McDermott said the Lummus business could be...

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