Fraser Guides National Oilwell's $233M Gas Supply Co. Buy

Law360, New York (May 31, 2012, 3:36 PM EDT) -- Houston-based National Oilwell Varco Inc. has agreed to acquire Canadian oil and gas parts manufacturer CE Franklin Ltd. — which is backed by energy giant Schlumberger Ltd. — for roughly $233 million, the companies said Wednesday.

NOV said it would pay roughly $12.37 per share to acquire CE Franklin, which makes and distributes supplies to oil and gas producers throughout Canada.

"The addition of CE Franklin to NOV's Canadian distribution operations will broaden our product offering and customer base, while strengthening our combined abilities to serve...
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