FMC Technologies to buy Pure Energy for C$282 mln

Mon Aug 20, 2012 8:50am EDT

Aug 20 (Reuters) - Oilfield services provider FMC Technologies Inc will buy Pure Energy Services Ltd for about C$282 million ($285 million) in cash to expand into the business of providing equipment that can recover drilling fluid from shale wells.

FMC will pay C$11 per Pure Energy share, a 40 percent premium to Pure Energy stock's Friday close.

Calgary-based Pure Energy provides oil and gas companies with equipment used in the final stages of preparing a well for production.

Pure Energy operates in Western Canada and some parts of the United States.

FMC Technologies' shares closed at $47.97 on Friday on the New York Stock Exchange.