April 23, 2018 / 1:09 PM / 7 months ago

BRIEF-Mcdermott Board Of Directors Rejects Unsolicited, Non-Binding Proposal From Subsea 7

April 23 (Reuters) - McDermott International Inc:

* MCDERMOTT BOARD OF DIRECTORS REJECTS UNSOLICITED, NON-BINDING PROPOSAL FROM SUBSEA 7

* MCDERMOTT INTERNATIONAL - BOARD CONCLUDED THAT SUBSEA 7 PROPOSAL WAS NOT IN BEST INTERESTS OF CO AS IT "SIGNIFICANTLY UNDERVALUED MCDERMOTT"

* MCDERMOTT INTERNATIONAL - BOARD REAFFIRMED ITS RECOMMENDATION THAT MCDERMOTT STOCKHOLDERS SUPPORT TRANSACTION WITH CB&I

* MCDERMOTT INTERNATIONAL - COMBINATION WITH CB&I EXPECTED TO CLOSE IN MAY 2018

* MCDERMOTT INTERNATIONAL SAYS BOARD ALSO CONCLUDED SUBSEA 7 PROPOSAL WAS "NOT AN ATTRACTIVE ALTERNATIVE TO PROPOSED COMBINATION WITH CB&I" Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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