shaunl/E+ via Getty Images
Saipem (OTCPK:SAPMF) (OTCPK:SAPMY) said Sunday it agreed to merge with rival oilfield services company Subsea7 (OTCPK:SUBCY) (OTCPK:ACGYF) in an all-stock deal valued at ~$4.63B.
According to the deal terms, Subsea7 (OTCPK:SUBCY) (OTCPK:ACGYF) shareholders will receive 6.688 Saipem (