Share of McDermott International (NYSE:MDR) dropped -0.87% and is at $3.40 in the Real-Time trading session. The company opened at $3.51 on Tuesday, and is moving between $ 3.37 – $3.61, through the day.
McDermott International, Inc. (MDR) declared that a consortium of McDermott and L&T Hydrocarbon Engineering (LTHE), a wholly owned partner of Indian conglomerate Larsen & Toubro, was awarded a contract covering the engineering, procurement, construction and installation of major subsea field infrastructure for the Vashishta and S1 Development Project, a green field deepwater development off India’s East coast.
The scope of work comprises supply and installation of a series of pipeline end terminations (PLETs) and in-line tee structures (ILT), a pipeline end manifold structure (PLEM), rigid jumpers and about 30 miles of umbilicals. The pipeline scope comprises 64 miles of 14-inch dual rigid pipelines extending from the shallow water shore line to a maximum water depth of 2,300 feet.
“This award confirms the success of a strong consortium focused on delivering the best in-market solution for ONGC,” said David Dickson, McDermott’s President and Chief Executive Officer. “The combination of our best in class, deepwater, shallow water and onshore assets and capabilities created a compelling value proposition and also maximized the amount of work that will be undertaken in India. We look forward to working seamlessly with LTHE in delivering flawless execution for ONGC.”
Marriott International Inc (NASDAQ:MAR) declined -0.49% right now and is at $68.51. The 52-week range of the share price is from $63.95 – $85.00. The company has total market capitalization of $17.66 billion.
Marriott International, declared that it has filed a joint proxy and registration statement on Form S-4 with the U.S. Securities and Exchange Commission (SEC) in connection with the companys projected acquisition of Starwood Hotels & Resorts Worldwide in a merger transaction. Once complete, the transaction would result in the worlds largest hotel company, with more than 5,500 hotels and 1.1 million rooms across 31 brands in over 100 countries. The combined company would be named Marriott International, Inc. and would be headquartered in Bethesda, MD.
While this registration statement has not yet become effective and the information contained therein is subject to change, it provides important information about Marriotts projected acquisition of Starwood. Once declared effective by the SEC, the final proxy statement/prospectus comprised in the Form S-4 will be mailed to both Marriott and Starwood shareholders before stockholder votes on the projected acquisition. Marriott anticipates the transaction will close by mid-2016.
During the preparation of the pending registration statement, Marriott has been prohibited from engaging in share repurchases. With the filing of the draft Form S-4, Marriott will resume share repurchases right away (subject to certain regulatory mandated volume limitations in effect until the shareholder meetings to vote on the projected merger transaction). For 2015, Marriott anticipates nearly $2.2 billion will be returned to shareholders through share repurchases and dividends.
Shares of PG&E Corporation (NYSE:PCG), gained 0.09%, and is now trading at $54.02. Its overall volume is 331,492.00 million shares right now, and average trading volume of 2.39 million.
Pacific Gas and Electric Company (PG&E) and its employees and retirees will give close to $36 million to local nonprofits and schools in the coming year. Of that amount, employees and retirees contributed $7.9 million through PG&E’s Campaign for the Community, the most ever pledged in the company’s annual giving initiative.
“PG&E is 100 percent committed to assisting build a better California. We show this not only through our work to deliver safe, reliable, affordable and clean energy to millions of homes and businesses, but also through our spirit of community giving. I’m particularly proud of the way our employees step up each year to support the cities and towns where we live and work,” said Tony Earley, chairman, CEO and president of PG&E Corporation.
Through PG&E’s Campaign for the Community, employees can designate donation recipients and contribute amounts of their choosing through payroll deductions or one-time donations. Since 2000, PG&E employees and retirees have raised more than $70 million through Campaign for the Community, benefitting schools and nonprofit organizations primarily in communities where PG&E employees live and work in Northern and Central California.
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