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National Oilwell Varco, Inc. (NOV)

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  • May 7, 2013, 10:54 AM
    Dresser-Rand (DRC +3.8%) is turning into a takeover target for potential buyers such as Siemens (SI), National Oilwell Varco (NOV) and Cameron (CAM), Bloomberg writes. GE’s decision to buy Lufkin this year at the highest multiple to profit on record signaled an appetite for takeovers in the oilfield equipment industry, and DRC could be next on the list as the number of takeout candidates in the space diminishes.
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  • Feb. 19, 2013, 3:44 PM
    National Oilwell Varco (NOV +0.2%) receives antitrust approval for its acquisition of Robbins & Myers (RBN +0.7%), clearing the way for the $2.5B deal to close on Wednesday. The companies say they also received a letter from the Canadian antitrust officials stating they didn't plan to take any action in the matter.
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  • Dec. 7, 2012, 5:56 PM
    Antitrust reviews by U.S. and Canadian officials on Robbins & Myers' (RBN) planned $2.5B acquisition by National Oilwell Varco (NOV) have been extended, pushing the deal’s proposed closing date into 2013. The moves are not a big surprise; RBN -0.2%, NOV -0.3% AH.
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  • Oct. 10, 2012, 8:18 AM
    National Oilwell Varco (NOV) and Robbins & Myers (RBN) receive a request from the Justice Department for further information and documents related to their proposed $2.5B merger. The DOJ request is in line with its oversight duties under the Hart-Scott-Rodino Antitrust Improvements Act.
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  • Aug. 22, 2012, 5:08 PM
    Conditions are ripe for large oilfield service and equipment companies - think HAL, SLB, NOV, CAM, FTI - to continue to snap up smaller firms and assets, Barclays says, citing new regulations encouraging high-specification equipment, operator demand for equipment capable of increasing efficiencies, and the ongoing build-out in offshore markets. (also)
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  • Aug. 21, 2012, 2:52 PM
    Stock investors have reacted in a subdued way to recent deals (I, II, III) for oilfield services firms that should boost the earnings of buyers, including National Oilwell Varco (NOV), FMC Tech (FTI) and Chicago Bridge & Iron (CBI), Tudor Pickering analysts say. Most of the targets, such as Pure Energy, have “healthy” exposure to North America, which analysts say investors "still view skeptically."
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  • Aug. 9, 2012, 11:57 AM
    National Oilwell Varco's (NOV +0.7%) $2.5B deal to purchase Robbins & Myers (RBN +27.3%) is the sixth deal NOV has made this year alone, pushing its total M&A spending past $4B. Analysts largely applaud the latest deal, calling the price reasonable and saying the two companies fit together well; they expect the deal to boost NOV’s earnings next year.
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  • May 30, 2012, 5:29 PM
    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.
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  • May 25, 2012, 3:13 PM
    National Oilwell Varco (NOV +0.3%) acquires Canadian competitor Enerflow in a move that will expand NOV’s offering of well intervention and stimulation equipment. Financial terms of the deal were not disclosed.
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  • Feb. 3, 2012, 7:13 AM
    National Oilwell Varco (NOV) acquires Denmark-based NKT Flexibles for $670M in a deal that is expected to close in H1 of 2012. Shares +0.4% premarket.
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  • Jul. 5, 2011, 9:10 AM
    National Oilwell Varco (NOV) to acquire Ameron Internation (AMN) for $85/share in cash ($772M). Ameron makes fiberglass pipe used to transport oil, chemicals and water. NOV makes equipment for drillers. AMR +28% premarket to $84.62. NOV +0.2%. (PR)
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Company Description
National Oilwell Varco Inc is a provider in the design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations, and the provision of oilfield services to the upstream oil and gas industry.