ShawCor Provides Update on Review of Strategic Alternatives

ShawCor Provides Update on Review of Strategic Alternatives PR Newswire TORONTO, December 3, 2012 TORONTO, December 3, 2012 /PRNewswire/ -- (TSX: SCL.A, SCL.B) ShawCor Ltd. (TSX: SCL.A, SCL.B) ("ShawCor" or the "Company") today provided an update on the review of strategic alternatives presently being conducted by the special committee of independent directors (the "Special Committee") of the Board of Directors of ShawCor as originally announced on September 5, 2012. Since the commencement of the strategic review, the Special Committee has conducted a review of several strategic alternatives potentially available to ShawCor. After careful analysis, consideration and advice from its independent financial and legal advisors, and discussions with the controlling shareholder, the Special Committee and the Board have concluded that an acceptable sale transaction for all of the shares of ShawCor, while always a possibility, is highly unlikely at this time. The Special Committee is continuing to review and consider a range of strategic alternatives, however, there can be no assurance that any particular transaction will occur. ShawCor does not intend to comment further regarding the strategic review until such time, if any, as ShawCor enters into a definitive decision in respect of a particular transaction or otherwise determines that disclosure is appropriate or required.