Davis Polk is advising Technip S.A. in connection with its acquisition of Global Industries, Ltd, announced September 12, 2011. The transaction, which has been approved by the boards of directors of both companies and is structured as an all-cash merger at $8.00 per share, values Global Industries at $1.073 billion. The transaction is expected to close in early 2012, subject to regulatory approvals, approval by Global Industries’ shareholders and other customary closing conditions.

Technip is a French world leader in project management, engineering and construction for the energy industry. Technip shares are listed on the NYSE Euronext Paris exchange. Global Industries is a U.S.-based leading solutions provider of subsea construction and pipelay, engineering, project management and support services. Global Industries shares are listed on Nasdaq under the symbol “GLBL.” 

The Davis Polk corporate team includes partners Arnaud Pérès, John Banes and William H. Aaronson and associates Joanna A. McGinley, Amy T. Alter, Shingira Masanzu and Bhupinder Grewal. The employee benefits team includes partner Barbara Nims and associate Emma L. Ahrens. Partner Arthur J. Burke and counsel Stephen M. Pepper are providing antitrust advice. Partner Frank J. Azzopardi and associate David R. Bauer are providing intellectual property advice. Counsel Betty M. Huber is providing environmental advice. Partner Harry Ballan is providing tax advice. Members of the Davis Polk team are based in the New York, Paris and London offices.