Oil service companies FMC and Technip announced a plan to merge in an all-stock deal worth about $13 billion to create a larger player in the energy services sector.

The Houston-based FMC Technologies and the Paris-headquartered Technip will combine to form TechnipFMC. FMC investors will get one share in the company, while those with Technip shares will get two, the companies said. The combined company will have more than 49,000 employees operating in 45 countries. And the headquarters will be based in Paris.

This is the latest deal to re...

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