Reliable source says we will all be working for Honeywell next week, not just EP and LHT. Seems PM and management are ready for another big Christmas bonus! Buckle up.
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Not gonna happen with Honeywell. Too much overlap on the technology side--PDH, pX, Hydrocracking, etc. Deal has to be clean (no regulatory approval) and fast.
I can't confirm the rumor ... but based on the desire of sr mgmt to enrich themselves and the timing of recent stock option awards to them, I'd expect a sale price/share of roughly $24/share. Then Honeywell will refinance debt at much lower rates. For employees ... sadly no company buys without believing they can achieve 'efficiencies of scale', which means more layoffs. But, better to sit tight and remain calm ... to see what opportunities might come up as a result of a much bigger company and sweetened packages. Not great, but better than no sale and default ...
Hope Honeywell did not pay much. CB&I Houston is not worth much. Bunch of incompetent people, weak management and they are just a document control company.
Maybe CB&I found a s---er like Bernhard did when he sold Shaw to arrogant Asherman. CB&I is absolutely NOT reporting their project forecast costs “honestly”. The losses will continue on their 2 LNG and 2 power projects. BIG losses. Execs have clearly instructed their people what they want to hear and relayed their expectations to “chase a fantasy cost forecast” and not accurately report realistic costs at completion estimates. Compete lack of ethics and honesty...if only external auditors talked to the correct people...