IT Group Seeks Bankruptcy as Part of Planned Sale to Shaw
Keywords: government, ENR, markets, construction methods, labor, engineering news-record, business conditions, news articles
Full Article Price:
$4.95
Delivery: Immediate Online Access
Publication Date: 28-JAN-02
Format: XML document
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Article Description| The IT Group Inc. is seeking a way out of its financial distress by agreeing to a plan in which it would declare bankruptcy and sell most of its assets to The Shaw Group Inc. for between $160 million and $200 million. Under the plan, Shaw would provide it with a credit facility of up to $75 million. Significantly, up to 50% of the purchase price is payable in Shaw stock at either party's option. |
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