MCDERMOTT &lt;MDR> SAYS STAKE VIOLATES LAW

  McDermott International Inc said
  the purchase of a 5.4 pct block of its stock was an apparent
  violation of the laws of Panama, its country of incorporation.
      The company said a detailed disclosure of an acquisition
  offer must be made to the Panamanian National Securities
  Commission or to the target's board before acquiring more than
  five pct stake.
      It said transfers of securities in violation of these
  Panamanian regulations are invalid.
      The company was not immediately available to say who had
  acquired the 5.4 pct block of stock.
  

