The Babcock & Wilcox Company (B&W) (NYSE:BWC) today announced that its Board of Directors is evaluating the separation of the Company’s Power Generation Business and Government & Nuclear Operations Business into two publicly traded companies. The Board’s goal is to determine whether a separation creates the opportunity for enhanced shareholder value and business focus. B&W has retained JPMorgan as its financial advisor and Wachtell, Lipton, Rosen & Katz and Jones Day as legal advisors to assist in this process. B&W noted that there can be no assurance that a separation will occur or, if a separation is approved, its terms or timing. Additional detail will be provided on the Company’s third quarter 2014 earnings call in early November. About B&W Headquartered in Charlotte, N.C., The Babcock & Wilcox Company is a leader in clean energy technology and services, primarily for the nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor. B&W has locations worldwide and employs approximately 11,600 people, in addition to joint venture employees throughout the world. Learn more at www.babcock.com .
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