Report: The Shaw Group's shareholders vote to sell - WLOX.com - The News for South Mississippi

Report: The Shaw Group's shareholders vote to sell

  • Inside WLOX.comMore>>

  • Shaw Group agrees to sell company

    Shaw Group agrees to sell company

    Chicago Bridge & Iron Co. says it has agreed to buy Shaw Group Inc. for about $3.04 billion in cash and stock. The Woodlands, TX-based company, also known as CB&I, said the addition of Baton Rouge,More >>
    In a bombshell economic announcement, Baton Rouge's only Fortune 500 Company, The Shaw Group, is agreeing to a buyout and will sell the company to a business from Texas.More >>
BATON ROUGE, LA (WAFB) -

Reports have surfaced that shareholders of The Shaw Group voted Friday to sell the company to Chicago Bridge & Iron Co. for $3.04 billion.

The Greater Baton Rouge Business Report broke the news Friday morning.

News of the buyout deal were first announced in July.

The Shaw Group is Baton Rouge's only Fortune 500 company.

CB&I is a Netherlands-based company with administrative headquarters in The Woodlands, TX.

The deal is worth $46 per share in cash and stock.

According to the Business Report, the deal could close by mid-February.

It is still contingent on Nuclear Regulatory Commission approval and receipt of Shaw's cash settlement for the sale of its Westinghouse stake.

Copyright 2012 WAFB. All rights reserved.

  • NEWSMore>>

  • WLOX Editorial: If you want a say, talk to city leaders

    WLOX Editorial: If you want a say, talk to city leaders

    Friday, September 22 2017 10:20 AM EDT2017-09-22 14:20:21 GMT

    Property taxes are on the way up in both Ocean Springs and Gautier. If you own a home worth $100,000, the increase is another $30. If it's worth $200,000, a $60 increase. And in Gautier, the school taxes are on the rise as well. 

    More >>

    Property taxes are on the way up in both Ocean Springs and Gautier. If you own a home worth $100,000, the increase is another $30. If it's worth $200,000, a $60 increase. And in Gautier, the school taxes are on the rise as well. 

    More >>
  • WATCH: Firefighters raise truck to free trapped woman

    WATCH: Firefighters raise truck to free trapped woman

    Sunday, September 24 2017 2:07 PM EDT2017-09-24 18:07:25 GMT

    Amazing video and pictures from the scene of an early morning rescue show patience and teamwork on display as firefighters from five different units in Harrison County came together to rescue a woman trapped inside an overturned truck. 

    More >>

    Amazing video and pictures from the scene of an early morning rescue show patience and teamwork on display as firefighters from five different units in Harrison County came together to rescue a woman trapped inside an overturned truck. 

    More >>
  • Saints issue response to comments by President Trump

    Saints issue response to comments by President Trump, Source: Mark LaGrangeSaints issue response to comments by President Trump, Source: Mark LaGrange

    Joining a growing list of NFL teams speaking out against President Donald Trump's response to player protests around the league, the Saints and Pelicans released a joint statement from Owner Tom Benson today.

    More >>

    Joining a growing list of NFL teams speaking out against President Donald Trump's response to player protests around the league, the Saints and Pelicans released a joint statement from Owner Tom Benson today.

    More >>
Powered by Frankly