Babcock & Wilcox ranks at No. 40 on ENR’s list of The Top 400 Contractors, with nearly $1.4 billion in 2013 revenue. Analysts speculate the split units will be acquired. “We do not believe the ultimate end game is for the two businesses to become two publicly traded companies,” says Jamie Cook, lead E&C sector analyst for Credit Suisse. She says potential acquirers of BWX Technologies include aerospace and defense companies, and that an international firm would likely buy the power generation business “as Asian players are trying to enter the market.” According to Cook, B&W executives say they are not in acquisition talks with any potental buyers.