Halliburton begins exchange offer for KBR stock

By Lisa Kerner

Charlotte, N.C., March 2 - Halliburton Co. began its planned exchange offer of its shareholders' common stock for shares of KBR, Inc. common stock.

The exchange offer expires on March 29, according to a company news release.

For each $1.00 of Halliburton common stock accepted in the exchange offer, the tendering stockholder will receive about $1.08 of KBR common stock.

Halliburton owns 135,627,000 shares of KBR common stock, or 81% of the company's outstanding shares.

The exchange offer will be the final step in the separation of the global engineering construction and services company from Halliburton.

Halliburton, based in Houston, provides products and services to the petroleum and energy industries.

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