TechnipFMC delays spinoff on concerns over pandemic, markets

TechnipFMC PLC (NYSE: FTI) has decided to delay a much-anticipated deal that would split it into two companies on concerns about the ongoing global pandemic and other issues.

The coronavirus outbreak, a sharp decline in oil prices and equity market volatility have materially changed the environment in which TechnipFMC would conduct the split, the company said in a March 15 press release.

“The impacts of these events have created a market environment that is not currently conducive to the company’s…

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