Jacobs Engineering to Buy McDermott Units
- Share via
Pasadena-based Jacobs Engineering Group Inc. said it plans to buy two Canadian subsidiaries of McDermott International Inc.
Terms of the transaction weren’t disclosed.
Jacobs plans to acquire McDermott Engineers & Constructors (Canada) Ltd. and Delta Hudson Engineering to expand its presence in oil and gas exploration and production services, among others. Both units are based in Calgary, Alberta.
Shares of Jacobs rose $1.20 to $60, and shares of New Orleans-based McDermott rose 6 cents to $10.32, both on the New York Stock Exchange.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
