Fulbright Aids National Oilwell In $2.5B Buy Of Drill Parts Co.

Law360, New York (August 9, 2012, 1:35 PM EDT) -- Drilling equipment manufacturer National Oilwell Varco has agreed to swallow up Ohio specialty oil-drilling parts maker Robbins & Myers Inc. in a deal that values the target at $2.5 billion, the pair said Thursday, continuing the buyer's spate of acquisitions.

Houston-headquartered National Oilwell will add to its downhole-drilling repertoire with Robbins & Myers' critical products including pumps and control valves. The $60 per-share cash price has the blessing of both companies' boards and Robbins & Myers' single largest stockholder, M.H.M. & Co. Ltd., which owns roughly...
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