McDermott International completed its merger with Chicago Bridge & Iron on 5/10/2018 for McDermott International stock.
The SEC filing for this merger (S-4/A filing of 3/27/2018) was found through the Investor Relations area of the McDermott International web site.
This transaction can be entered as a standard merger in the accounting system. The information below is based on the information available from the S-4/A filed with the SEC. Price information is from websites offering historical prices.
Go to Transactions > Merger or Accounting > Securities > Record merger of securities depending on the version of the software being used. If you are unfamiliar with merger
transactions you can get help at this URL:
https://www.iclub.com/support/kb/default.asp?page=normal_merger
Here is the information you need to complete the merger.
Date: 5/10/2018
Old Security or Merging Company: Chicago Bridge & Iron (CBI)
Price per share of old Security / CBI: Use last valuation, if needed
Cash received: See your broker statement for cash-in-lieu
New Security: McDermott International (MDR)
New Security Price: 20.25 (Opening price on 5/10/2018)
Shares received: .82407 x (#of CBI shares owned)
(Remember to include fractional shares.)
For example, if you owned 100 CBI shares, you should receive .82407 x 100 = 82.407 MDR shares.
Save the transaction and the merger has been entered.
NOTE: The SEC filings state that the tax consequences assumed are not definitive with the way this merger was structured. It is possible the non-taxable “reorganization” claim of the companies involved could be challenged by the IRS. This transaction may need to be edited or
deleted and re-entered to accommodate any change to the tax consequences of this merger due to IRS action.
