B&W Evaluating a Separation of Its Businesses
October 01 2014 - 6:00AM
Business Wire
The Babcock & Wilcox Company (B&W) (NYSE:BWC) today
announced that its Board of Directors is evaluating the separation
of the Company’s Power Generation Business and Government &
Nuclear Operations Business into two publicly traded companies. The
Board’s goal is to determine whether a separation creates the
opportunity for enhanced shareholder value and business focus.
B&W has retained JPMorgan as its financial advisor and
Wachtell, Lipton, Rosen & Katz and Jones Day as legal advisors
to assist in this process.
B&W noted that there can be no assurance that a separation
will occur or, if a separation is approved, its terms or timing.
Additional detail will be provided on the Company’s third quarter
2014 earnings call in early November.
About B&WHeadquartered in Charlotte, N.C., The
Babcock & Wilcox Company is a leader in clean energy technology
and services, primarily for the nuclear, fossil and renewable power
markets, as well as a premier advanced technology and mission
critical defense contractor. B&W has locations worldwide and
employs approximately 11,600 people, in addition to joint venture
employees throughout the world. Learn more at www.babcock.com.
The Babcock & Wilcox CompanyMedia
Contact:Aimee Mills, 980-365-4583Media Relations
Leadaemills@babcock.comorInvestor Contact:Jenny L. Apker,
704-625-4937Vice President, Treasurer and Investor
Relationsinvestors@babcock.com