White & Case Reps Acergy In $2.5B Subsea 7 Merger

Law360, New York (June 21, 2010, 3:56 PM EDT) -- Norwegian energy company Acergy SA has agreed to purchase underwater oil and gas field developer Subsea 7 Inc. for $2.5 billion, forming a combined company with a total market capitalization of $5.4 billion.

The tie-up will create a global leader in seabed-to-surface engineering and construction for underwater energy projects with over 12,000 employees, with the Subsea 7 name to be preserved, the companies said Monday.

The companies expect to realize annual synergies of at least $100 million within three years from overhead and operating cost savings,...
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