A little cash coming to CBI.
In connection with the Purchase Agreement, CB&I anticipates incurring a non-cash after tax charge of approximately $1.0 to $1.2 billion related to a loss on the transaction and the impairment of goodwill and intangible assets, of which approximately $904 million will be recorded in the third quarter 2015. The remaining estimated after-tax charge of approximately $100 to $300 million is anticipated to be recorded in the fourth quarter 2015, and will be dependent upon the timing of closing of the transaction.
Not sure if it's enough to break out of this little trading range it's in, though. Especially, since it doesn't affect the overall business going forward.
You can lead a horse to water. But you can't make him get down on one knee and do an Al Jolson impression!
