Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Halliburton Co. > News item |
Halliburton, KBR exchange offer complete, companies now separate entities
By Lisa Kerner
Charlotte, N.C., April 5 - Halliburton Co. and KBR, Inc. are now two separate, independent companies following completion of an exchange offer in which 209,441,458 shares of Halliburton stock were tendered, and 85,273,184 shares were accepted for 135,627,000 shares of KBR.
"This is a major event for Halliburton," company chairman, president and chief executive officer Dave Lesar said in a news release.
"As a pure oilfield services company, Halliburton now can focus on the global growth opportunities in its core energy services business."
Halliburton previously announced that the offer was oversubscribed and, as a result, it would accept about 40% of the Halliburton shares tendered.
Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. were dealer managers for the exchange offer.
The final exchange rate, as of March 29, is 1.5905.
Under the original exchange offer, announced on March 2, tendering stockholders would have received about $1.08 of KBR common stock for each $1.00 of Halliburton common stock.
Halliburton, based in Houston, provides products and services to the petroleum and energy industries.
KBR is a Houston engineering construction and services company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.