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Shaw shareholders vote for sale

2 years ago December 21, 2012 Dec 21, 2012 Friday, December 21 2012 Friday, December 21, 2012 11:21:09 AM CST in News
By: Jimmy Frederick

BATON ROUGE-The Shaw Group, Baton Rouge's only Fortune 500 company, is set to be sold to CB&I. Shareholders voted today to approve the $3.04 billion sale to the Netherlands-based company.

The deal is worth $46 per share in cash and stock and is expected to close in mid-February.

Shaw Founder, Jim Bernhard, says there will be changes to the company's current structure, but he expects most Baton Rouge employees to remain in their present positions.



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