Oslo-listed Subsea 7’s unsolicited bid to purchase US-listed McDermott International for a transaction value of about $2bn could potentially create a new subsea market leader.
The proposed merger would combine Subsea 7’s 34 construction vessels with McDermott’s 12 ships, with the offshore activity dovetailing tightly by region.
For example, Subsea 7’s strengths in Brazil, the Gulf of Mexico and the North Sea would combine with McDermott’s coverage in the Middle East, India and Australia.
