May 2, 2018 / 3:42 PM / 6 months ago

BRIEF-Subsea 7 withdraws bid for McDermott

May 2 (Reuters) - Subsea 7 Sa:

* SUBSEA 7 WITHDRAWS ITS PROPOSAL TO ACQUIRE MCDERMOTT

* IN LIGHT OF THIS VOTE, SUBSEA 7 CONFIRMS THAT PROPOSAL MADE TO MCDERMOTT'S BOARD OF DIRECTORS ON APRIL 17 AND PUBLISHED ON APRIL 23 IS NO LONGER VALID

* WILL CONTINUE TO INVEST IN ALTERNATIVE ROUTES TO GROW AND STRENGTHEN ITS BUSINESS WORLDWIDE, WITH A FOCUS ON DIFFERENTIATION THROUGH ITS MARKET LEADING CAPABILITIES AND ENABLING TECHNOLOGY Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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