Deals
National Oilwell to Buy Robbins & Myers for $2.5 Billion
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National Oilwell Varco Inc., the largest U.S. maker of oilfield equipment, agreed to buy Robbins & Myers Inc. for $2.54 billion in cash, its biggest acquisition in more than four years.
Holders of Robbins & Myers will get $60 a share under the agreement, Houston-based National Oilwell said in a statement today. That’s a 28 percent premium to Robbins & Myers’s closing price yesterday. The shares rose a record 27 percent to $59.63 at the close in New York.