oooch, noo thats a merger ken
London, England – October 21, 2008 – Acergy S.A.
(NASDAQ-GS: ACGY ; Oslo Stock Exchange: ACY) today
made the following announcement.
The Board of Acergy would like to inform
Shareholders that it has held discussions with
Subsea 7 Inc. in relation to a possible merger of
the two companies. These discussions have now been
terminated.
Mark Woolveridge, Chairman, said: `The Acergy
Board gave this approach its fullest
consideration, but decided to continue with its
independent strategy. With our position as one of
the leading companies in the SURF sector, our high
quality fleet, operating excellence and good
backlog, we remain well positioned for profitable
growth. Furthermore, in a challenging period in
financial markets, our strong balance sheet
underpins the Board`s confidence in the Group`s
ability to deliver value for shareholders.`
No need to worry, then? 😕
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