Halliburton will dispose of its remaining interest in Kellogg Brown & Root in a split-off exchange offer to its stockholders. It will offer 135.6 million shares of KBR common stock for shares of the parent’s common stock in a Feb. 26 board-approved plan. Halliburton will distribute remaining shares of KBR stock to shareholders as a special dividend. The exchange will be the final step in the separation of KBR from Halliburton.
Halliburton-KBR Split Progresses
March 5, 2007