Deals
Hunting Buys Titan for $775 Million to Expand in Shale Oil
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Hunting Plc, a U.K. oil-services provider, agreed to buy Titan Group from Riverstone Holdings LLC for $775 million to expand in unconventional oil and gas services in North America. The shares fell the most since 2008.
The acquisition of Texas-based Titan gives Hunting perforating gun systems for fracturing shale rock and other hardware used in drilling and well maintenance, Hunting said today in a statement. It raised 85.4 million pounds ($139 million) by selling 13.2 million new shares to part-fund the purchase, it said in a separate statement.