Shaw Group Inc. (SHAW) announced Monday morning that it agreed to be acquired by Chicago Bridge & Iron (CBI) for $46.00 per share in cash and stock. The acquisition is expected to close in early 2013.
Shaw Group gapped open dramatically higher Monday, but gave back some of its early gains in the first half of the session. The stock ended the day higher by 14.80 at $41.49 on the highest volume of the year and leaped to a new high for the year.
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