CB&I is expected to complete its $3 billion acquisition of Baton Rouge-based Shaw Group Inc. by Tuesday, and Shaw will no longer be listed in Standard & Poor’s MidCap 400 after that, according to S&P Dow Jones Indices.
Primerica Inc. will replace Shaw in the MidCap 400, according to S&P Dow Jones.
Shaw is an engineering, construction and fabrication company with about 27,000 workers worldwide. Of those, 4,000 workers are in Louisiana, with about 1,000 in Baton Rouge. CB&I, whose corporate offices are in The Woodlands, Texas, engineers and builds some of the world’s largest infrastructure projects. CB&I has around 23,000 employees worldwide.
The combined company will be one of the largest in the Western hemisphere.