Subsea 7 has reaffirmed its interest in acquiring McDermott International subject to McDermott calling off its deal to buy land-based engineering firm Chicago Bridge & Iron.
Earlier this week Subsea 7 made a $2bn bid for McDermott, offering to pay $7 per share against a previous closing price of $6.05.
That proposed merger turned hostile after McDermott's board firmly rejected the offer, causing Subsea 7 to take its case for the transaction directly to shareholders.
