HSR Waiting Period Terminates Clearing MRC Global Inc. To Proceed With Pending
Acquisition Of Production Specialty Services
HOUSTON, Dec. 12, 2012
HOUSTON, Dec. 12, 2012 /PRNewswire/ --MRC Global Inc. (NYSE:MRC) announced
today that the waiting period under the Hart-Scott-Rodino Anti-Trust
Improvements Act of 1976 was terminated early in connection with MRC's
previously announced pending acquisition of Production Specialty Services,
Inc. Closing of the acquisition remains subject to other customary closing
conditions and is expected to occur before year-end 2012.
About MRC Global Inc.
Headquartered in Houston, Texas, MRC, a Fortune 500 company, is the largest
global distributor of pipe, valve, and fittings (PVF) and related products and
services to the energy industry, based on sales, and supplies these products
and services across each of the upstream, midstream and downstream sectors.
More information about MRC can be found at www.mrcglobal.com.
This news release contains forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Exchange Act. Words
such as "expected" and similar expressions are intended to identify
forward-looking statements. The company's expectation of the closing its
planned acquisition of Production Specialty Services Inc. is only the
company's expectation regarding this matter. Whether MRC is actually
successful in closing its acquisition of Production Specialty Services is
dependent on a number of factors, including (among others) the fulfillment or
waiver of customary conditions to closing of acquisitions of similar
companies. There can be no guarantee that these conditions will be met or
waived or met or waived by the company's expected closing date.
Undue reliance should not be placed on the company's forward-looking
statements. Although forward-looking statements reflect the company's good
faith beliefs, reliance should not be placed on forward-looking statements
because they involve known and unknown risks, uncertainties and other factors,
which may cause the company's actual results, performance or achievements or
future events to differ materially from anticipated future results,
performance or achievements or future events expressed or implied by such
forward-looking statements. The company undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result of new
information, future events, changed circumstances or otherwise, except to the
extent required by law.
James E. Braun, EVP & Chief Financial Officer
MRC Global Inc.
Ken Dennard, Managing Partner
SOURCE MRC Global Inc.
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