National Oilwell Varco (NOV) agrees to acquire oil and gas equipment distributor CE Franklin...

|About: National Oilwell Varco, Inc. (NOV)|By:, SA News Editor

National Oilwell Varco (NOV) agrees to acquire oil and gas equipment distributor CE Franklin (CFK) for ~C$240M. The C$12.75/share price is a 36% premium to the volume weighted average price over the 20-day period prior to April 17, when CFK said it was reviewing strategic alternatives.