© 2012 The Texas Lawbook.
By Mark Curriden, JD
Senior Writer for The Texas Lawbook
Another day, another billion-dollar acquisition in the oil patch.
On Thursday, Houston-based National Oilwell Varco announced it is buying Robbins & Myers, an Ohio-based oil and gas equipment maker, for $2.5 billion in an all-cash transaction.
Fulbright & Jaworski Houston-based corporate partners Kevin Trautner and David Peterman represent NOV in the acquisition. Other Fulbright lawyers involved in the transaction are Houston litigation partner Joseph M. Graham and senior associate P. Hunter Port, who is in Fulbright’s corporate section.
Robbins & Myers, which manufacturers pumps, valves and other equipment controlling the distribution of oil and gas in drilling operations, is represented by Thompson Hine.
NOV has been employing a lot of transaction lawyers during the past three years. According to the company’s website, it has been involved in a dozen acquisitions, mergers and joint ventures during the past three years.
While the boards of both corporations have approved the deal, two-thirds of Robbins & Myers shareholders must give the thumbs up before the transaction can close.
“Robbins & Myers has many complementary products with those National Oilwell Varco currently offers the industry,” Pete Miller, National Oilwell’s chairman and chief executive, said in a statement. “We feel that our combined manufacturing infrastructure and portfolios of technology will further advance our presence in the oil and gas markets we serve.”
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