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McDermott International Set to Join S&P MidCap 400; Diebold Nixdorf to Join S&P SmallCap 600

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McDermott International Set to Join S&P MidCap 400; Diebold Nixdorf to Join S&P SmallCap 600

PR Newswire

NEW YORK, May 3, 2018 /PRNewswire/ -- S&P SmallCap 600 constituent McDermott International Inc. (NYSE:MDR) will replace Diebold Nixdorf Inc. (NYSE:DBD) in the S&P MidCap 400, and Diebold Nixdorf will replace McDermott International in the S&P SmallCap 600 effective prior to the open of trading on Thursday, May 10. McDermott International is merging with Chicago Bridge & Iron Company N.V. (NYSE:CBI) in a deal expected to be completed on or about that date pending final conditions.  Post-merger, the combined company will have a market capitalization more representative of the mid-cap market space. Diebold Nixdorf is ranked at the bottom of the S&P MidCap 400 and is no longer appropriate for that index.

McDermott International provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. Headquartered in Houston, TX, the company will be added to the S&P MidCap 400 Global Industry Classification Sector (GICS) Oil & Gas Equipment & Services Sub-Industry index.

Diebold Nixdorf provides connected commerce solutions to financial institutions and retailers. Headquartered in North Canton, OH, the company will be added to the S&P SmallCap 600 GICS Technology Hardware, Storage & Peripherals Sub-Industry index.

Following is a summary of the change:

S&P MIDCAP 400 INDEX – May 10, 2018


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

McDermott
International

Energy

Oil & Gas Equipment &
Services

DELETED

Diebold Nixdorf

Information Technology

Technology Hardware,
Storage & Peripherals

 

S&P SMALLCAP 600 INDEX – May 10, 2018


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Diebold Nixdorf

Information Technology

Technology Hardware,
Storage & Peripherals

DELETED

McDermott
International

Energy

Oil & Gas Equipment &
Services

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SOURCE S&P Dow Jones Indices

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