Key Developments: National Oilwell Varco Inc (NOV)
68.90USD
23 May 2013
$-0.27 (-0.39%)
$69.17
$68.18
$69.09
$67.34
5,488,977
3,966,967
$89.95
$59.07
Latest Key Developments (Source: Significant Developments)
National Oilwell Varco Inc Announces Increase In Regular Quarterly Dividend
National Oilwell Varco Inc announced that its Board of Directors has approved an increase in the regular quarterly cash dividend to $0.26 per share of common stock from $0.13 per share of common stock, payable on June 28, 2013 to each stockholder of record on June 14, 2013. Full Article
GMM Pfaudler Ltd Updates On Open Offer From National Oilwell Varco, Inc
Citigroup Global Markets India Pvt Ltd (Manager to the Open Offer) on behalf of National Oilwell Varco, Inc., (Acquirer) and Pfaudler Inc., in its capacity as a person acting in concert with the Acquirer (PAC) announced to the Shareholders of GMM Pfaudler Ltd (Target Company), in respect of the Open Offer (Offer) to acquire 3,800,550 fully paid up equity shares of INR2 each (Equity Shares) of the Target Company. The Detailed Public Statement (DPS ) with respect of the Offer was made on February 27, 2013. Full Article
National Oilwell Varco Inc Declares Regular Quarterly Dividend
National Oilwell Varco Inc announced that its Board of Directors declared the regular quarterly cash dividend of $0.13 per share of common stock, payable on March 29, 2013 to each stockholder of record on March 15, 2013. Full Article
National Oilwell Varco Inc Completes Acquisition Of Robbins & Myers Inc
National Oilwell Varco Inc and Robbins & Myers Inc announced that National Oilwell Varco's acquisition of Robbins & Myers is complete. Under the merger agreement for this transaction, Robbins & Myers shareholders will receive $60.00 in cash for each Robbins & Myers Common Share. Full Article
Robbins & Myers Inc Updates On Merger With National Oilwell Varco Inc
Robbins & Myers Inc announced that it and National Oilwell Varco Inc have entered into a timing agreement with the United States Department of Justice (DOJ) pursuant to which Robbins & Myers and National Oilwell Varco have agreed to provide at least 30 days notice to the DOJ prior to consummating the proposed merger transaction in which National Oilwell Varco would acquire all of the outstanding shares of Robbins & Myers for $60.00 per share in cash (the Merger). The parties are continuing to provide information to the DOJ; however without DOJ consent, the Merger cannot close prior to February 18, 2013. the plaintiff in the previously disclosed shareholder law suit pending in the United States District Court for the Southern District of Ohio agreed not to pursue injunctive relief to enjoin the special meeting of shareholders scheduled for December 27, 2012. Full Article
National Oilwell Varco Inc Announces Management Changes
National Oilwell Varco Inc announced that Clay Williams has been named President and Chief Operating Officer of National Oilwell Varco. Jeremy Thigpen will assume the role of Senior Vice President and Chief Financial Officer. Full Article
National Oilwell Varco Inc Announces Pricing of Senior Notes Offering
National Oilwell Varco Inc announced the pricing of a public offering of $3.0 billion of senior notes, consisting of three tranches: $500,000,000 aggregate principal amount of its 1.35% senior notes due December 1, 2017; $1,400,000,000 aggregate principal amount of its 2.60% senior notes due December 1, 2022; and $1,100,000,000 aggregate principal amount of its 3.95% senior notes due December 1, 2042. The offering is expected to close on November 20, 2012 . The Company intends to use approximately $2.5 billion of the net proceeds from the sale of the senior notes to fund a portion of the purchase price for the acquisition of Robbins & Myers, Inc. (the “Robbins & Myers Acquisition”), which it currently expects to close in the fourth quarter of 2012. The remaining net proceeds will be used for other general corporate purposes. If the Company does not consummate the Robbins & Myers Acquisition or the consummation of the Robbins & Myers Acquisition is delayed until the first quarter of 2013, the net proceeds intended to be used to fund such acquisition will be used for other general corporate purposes, including the funding of ongoing operations and other acquisitions by the Company. Barclays Capital Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. Full Article
National Oilwell Varco Inc Announces Increase In Regular Quarterly Dividend
National Oilwell Varco Inc announced Board of Directors has approved an increase in the regular quarterly cash dividend to $0.13 per share of common stock, payable on December 21, 2012 to each stockholder of record on December 7, 2012. Full Article
National Oilwell Varco Inc Declares Regular Quarterly Dividend
National Oilwell Varco Inc announced that its Board of Directors declared the regular quarterly cash dividend of $0.12 per share of common stock, payable on September 28, 2012 to each stockholder of record on September 14, 2012. Full Article
Robbins & Myers, Inc. and National Oilwell Varco, Inc. Announce Merger Agreement at $60.00 per Share in Cash
Robbins & Myers, Inc. and National Oilwell Varco, Inc. announced that they have entered into an agreement under which National Oilwell Varco will acquire Robbins & Myers in an all cash transaction that values Robbins & Myers at approximately $2.5 billion. Under the agreement, Robbins & Myers' shareholders will receive $60.00 per share in cash in return for each of the approximately 42.4 million shares outstanding (the Transaction). The Boards of Directors of National Oilwell Varco and Robbins & Myers have unanimously approved the transaction, which is subject to customary closing conditions, including the approval of two-thirds of Robbins & Myers shareholders. Closing would be expected to occur in the fourth quarter of calendar 2012. Robbins & Myers' largest shareholder, M.H.M. & Co., Ltd, which owns approximately 10% of the outstanding common shares of Robbins & Myers (Common Stock) has agreed to vote its Common Stock in favor of the Transaction in accordance with the terms of a support agreement entered into in respect of the Transaction. The support agreement will terminate in the event the merger agreement is terminated in accordance with recommendation of the Board of Robbins & Myers. In connection with this transaction, Citigroup Global Markets acted as lead financial advisor and Thompson Hine LLP acted as legal advisor to Robbins & Myers. Fulbright & Jaworski LLP acted as legal advisor to National Oilwell Varco. Full Article
National Oilwell hit by slow North American natgas drilling
- National Oilwell Varco Inc , the largest U.S. oilfield equipment provider, reported a larger-than-expected decline in quarterly profit as margins were squeezed and the North American market was softer than expected.
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