Posted: Feb 13, 2013 11:08 AM
Source: Associated Press
BATON ROUGE - CB&I completed its acquisition of The Shaw Group Inc. Wednesday, a move that means Baton Rouge will no longer be headquarters for a Fortune 500 company.
CB&I and Shaw shareholders overwhelmingly approved the $3 billion deal in December.
CB&I will operate Shaw as a separate business unit under the name CB&I Shaw. Headquarters functions at the company's Baton Rouge offices have shifted to The Woodlands, Texas, where CB&I is based.
CB&I engineers and builds some of the world's largest infrastructure projects. CB&I has around 23,000 employees worldwide. Shaw is an engineering, construction and fabrication company with about 27,000 workers worldwide. Of those, 4,000 are in Louisiana, with around 1,000 in Baton Rouge.