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      "text": "We believe Fluor operated in an overly competitive EPCM market where growth was often prioritized over discipline and profitability",
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      "text": "Current Players: Bechtel, Black & Veatch, Burns & McDonnell, Fluor, Kiewit, Technip Energies, Worley",
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      "text": "Exit / Scaled Back: AECOM, Jacobs, KBR, Lendlease",
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      "text": "Bankruptcy / Distressed: China Construction America, McDermott, Wood, Zachry",
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      "text": "Source: Public company filings, company websites. Starboard has identified the “Prior EPCM Players” listed above as the relevant peer group...",
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