- C&J Energy Services (CJES) +2.8% premarket on news the two companies have agreed to reduce the cash portion of its deal to buy Nabors Industries' (NBR) production services unit by $250M to $688M.
- Including stock, the deal was valued at $2.86B when it was announced in June.
- A court had halted the deal in November, finding C&J’s board’s failure to seek out other buyers might have shortchanged its investors, but a higher court ruling in December allowed the transaction to proceed.