Acergy confirms end of merger talksNews // November 10, 2008
The Board of Acergy has issued a statement in in which it confirms that although it has held discussions with Subsea 7 regarding a possible merger of the two companies, the 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.”