Posted: Nov 21, 2012 10:43 AM
Source: Associated Press
BATON ROUGE - Shareholders of The Shaw Group Inc. will meet Dec. 21 to vote on the Baton Rouge company's $3 billion sale to CB&I.
Shaw announced Tuesday that the meeting will be held at the company's Essen Lane headquarters.
The Advocate reports those who hold shares of Shaw as of the close of business Nov. 30 will be able to vote on the sale.
The engineering, construction and fabrication company noted that the deal must be approved by the holders of at least 75 percent of Shaw stock, and that a failure to vote on the transaction is the same as casting a ballot against the sale.
The Shaw board of directors has unanimously come out in favor of the deal.