National Oilwell Varco Completes Acquisition of Robbins & Myers

  National Oilwell Varco Completes Acquisition of Robbins & Myers

Business Wire

HOUSTON -- February 20, 2013

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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Contact:

National Oilwell Varco, Inc.
Jeremy Thigpen, 713-346-7301
jeremy.thigpen@nov.com
 
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