Shaw Group buys Stone & Webster.(Brief Article)
Supply House Times, August, 2000
The Shaw Group bought all the assets and assumed certain liabilities of Stone & Webster, a provider of engineering, design, construction and services to the power, process, environmental/infrastructure, governmental and industrial markets.
Shaw agreed to pay $38 million in cash and another $105.8 million in Shaw common stock. Shaw also assumed liabilities with a book value of $450 million and assets valued at $600 million.
Stone & Webster filed for Chapter 11 bankruptcy in June. In early July, Shaw received approval from Federal Bankruptcy Court to bid for Stone & Webster and topped another bid from Jacobs Engineering Group.
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