Key Developments: MRC Global Inc (MRC.N)
27.15USD
1 Aug 2013
$0.33 (+1.23%)
$26.82
$27.01
$27.63
$27.01
174,853
239,080
$34.13
$21.31
Latest Key Developments (Source: Significant Developments)
MRC Global Inc Updates FY 2013 Guidance
MRC Global Inc announced that for fiscal 2013, it expects revenue to be between $5.100 billion to $5.300 billion, Adjusted EBITDA of between $385 million to $415 million and diluted earnings per share to be between $1.65 to $1.85. Full Article
MRC Global Inc Completes Acquisition Of Flow Control Products
MRC Global Inc announced that it has completed the previously announced acquisition of the operating assets of Dan H. Brown, Inc., D/B/A Flow Control Products (Flow Control). Full Article
MRC Global Inc To Acquire Flow Control Products
MRC Global Inc announced that it has signed an agreement to acquire the operating assets of Dan H. Brown, Inc., D/B/A Flow Control Products (Flow Control). Flow Control is a leading provider of pneumatic, electric and electro-hydraulic valve automation packages and related field support to the Permian Basin energy industry, including production facilities, pipelines, and plant operations. Flow Control employs 25 people and will operate as an MRC Valve Automation Center. Flow Control reported 2012 revenues of $28 million. Full Article
MRC Global Inc Secures PVF Contract From Celanese Corp
MRC Global Inc announced that it has been awarded a global contract to supply and distribute pipe, valve and fitting (PVF) needs for Celanese Corporation. The five year contract covers all of Celanese's global manufacturing operations, including pipes, valves and fittings for MRO. The associated services can include traditional distribution, project services and on-site materials management. This contract allows the MRC value proposition to be expanded to the Celanese operations worldwide, delivering cost savings and best practices. Full Article
The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Directors of MRC Global Inc
Levi & Korsinsky, LLP announced that it is investigating MRC Global Inc, and its Board of Directors, in connection with possible claims of breaches of fiduciary duty. Full Article
The Law Firm of Levi & Korsinsky, LLP Launches An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Directors Of MRC Global Inc
Levi & Korsinsky, LLP announced that it is investigating MRC Global Inc and its Board of Directors, in connection with possible claims of breaches of fiduciary duty. Full Article
MRC Global Inc Reaffirms FY 2013 Revenue Guidance; Lowers High End Of Prior FY 2013 Earnings Guidance To A Range In Line With Analysts' Estimates
MRC Global Inc announced that for fiscal 2013, it expects revenue to be between $5.750 billion to $6.050 billion, Adjusted EBITDA is expected to be between $480 million to $510 million and diluted earnings per share is expected to be between $2.10 to $2.30. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues $5.903 billion, EBITDA of $500 million and EPS of $2.30 for fiscal 2013. Full Article
Levi & Korsinsky, LLP Launches Investigation into Possible Breaches of Fiduciary Duty by Board of Directors of MRC Global Inc
Levi & Korsinsky, LLP announced that it is investigating MRC Global Inc, and its Board of Directors, in connection with possible claims of breaches of fiduciary duty. Full Article
MRC Global Inc Announces Exercise Of Over-Allotment Option In Public Offering Of Common Stock By Selling Stockholder
MRC Global Inc announced that in connection with the previously announced public offering of 23 million shares of the Company's common stock by PVF Holdings LLC, the Company's majority stockholder, the underwriters have exercised their option to purchase an additional 3.45 million shares at a price to the public of $28.00 per share. As a result, PVF Holdings LLC will sell a total of 26.45 million shares in the offering. The offering is expected to close on March 12, 2013, subject to the satisfaction of customary closing conditions. The Company will not receive any of the proceeds of the offering. Goldman, Sachs & Co., Barclays and Baird are serving as joint-bookrunning managers for the offering. BofA Merrill Lynch, Wells Fargo Securities and Stephens Inc. are serving as lead managers. Raymond James, KeyBanc Capital Markets and William Blair are serving as co-managers. Full Article
MRC Global Inc Upsizes And Prices Public Offering Of Common Stock By Selling Stockholder
MRC Global Inc announced that PVF Holdings LLC, the Company's majority stockholder, has increased the size of its offering of the Company's common stock from 17 million to 23 million shares and has agreed to sell these shares of the Company's common stock at a price of $28.00 per share in a registered underwritten public offering. PVF Holdings LLC has granted the underwriters a 30-day option to purchase up to an aggregate of 3.45 million additional shares. The Company will not receive any of the proceeds of the offering. Goldman, Sachs & Co., Barclays and Baird are serving as joint-bookrunning managers for the offering. BofA Merrill Lynch, Wells Fargo Securities and Stephens Inc. are serving as lead managers. Raymond James, KeyBanc Capital Markets and William Blair are serving as co-managers. Full Article

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