National Oilwell Varco Completes Acquisition of Robbins & Myers
February 20 2013 - 12:00PM
Business Wire
National Oilwell Varco, Inc. (NYSE: NOV) and Robbins &
Myers, Inc. (NYSE: RBN) jointly announced today that National
Oilwell Varco’s acquisition of Robbins & Myers is complete.
Pete Miller, Chairman and CEO of NOV, remarked, “We are happy to
have all of the Robbins & Myers employees around the world
joining the National Oilwell Varco family. Robbins & Myers has
an excellent reputation in the industries it serves, and the merger
of these two companies will provide us with an incredible
opportunity to expand the products and services offered to our
customers. Everyone at NOV is excited about this great combination
of historic companies and looks forward to the challenges
ahead.”
Under the merger agreement for this transaction, Robbins &
Myers shareholders will receive $60.00 in cash for each Robbins
& Myers Common Share.
About National Oilwell Varco, Inc.
National Oilwell Varco, Inc. is a worldwide leader in the
design, manufacture and sale of equipment and components used in
oil and gas drilling and production operations, the provision of
oilfield services, and supply chain integration services to the
upstream oil and gas industry.
About Robbins & Myers, Inc.
Robbins & Myers, Inc. is a leading supplier of engineered,
application-critical equipment and systems in global energy,
chemical and other industrial markets.
Forward-Looking Statements
Statements set forth in this press release that are not
historical facts are forward-looking statements within the meaning
of the federal securities laws. These forward-looking statements
are subject to numerous risks and uncertainties, many of which are
beyond the control of National Oilwell Varco, Inc. and Robbins
& Myers, Inc., which could cause actual benefits, results,
effects and timing to differ materially from the results predicted
or implied by the statements. Readers are referred to documents
filed with the Securities and Exchange Commission, including
National Oilwell Varco’s and Robbins & Myers' Annual Reports on
Form 10-K for the year ended December 31, 2011 and August 31, 2012,
respectively, recent Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K filed by both companies, and Robbins &
Myers’ final proxy statement filed with the SEC on November 30,
2012 in connection with the transaction, which identify significant
risk factors and uncertainties which could cause actual results to
differ from those contained in forward-looking statements. Neither
National Oilwell Varco nor Robbins & Myers undertakes any
obligation to revise or update publicly any forward-looking
statements for any reason.
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