Aug 20 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.