HOUSTON--(BUSINESS WIRE)--Feb. 20, 2013--
National Oilwell Varco, Inc. (NYSE: NOV) and Robbins & Myers, Inc.
(NYSE: RBN) jointly announced today that National Oilwell Varco’s
acquisition of Robbins & Myers is complete.
Pete Miller, Chairman and CEO of NOV, remarked, “We are happy to have
all of the Robbins & Myers employees around the world joining the
National Oilwell Varco family. Robbins & Myers has an excellent
reputation in the industries it serves, and the merger of these two
companies will provide us with an incredible opportunity to expand the
products and services offered to our customers. Everyone at NOV is
excited about this great combination of historic companies and looks
forward to the challenges ahead.”
Under the merger agreement for this transaction, Robbins & Myers
shareholders will receive $60.00 in cash for each Robbins & Myers Common
Share.
About National Oilwell Varco, Inc.
National Oilwell Varco, Inc. is a worldwide leader in the design,
manufacture and sale of equipment and components used in oil and gas
drilling and production operations, the provision of oilfield services,
and supply chain integration services to the upstream oil and gas
industry.
About Robbins & Myers, Inc.
Robbins & Myers, Inc. is a leading supplier of engineered,
application-critical equipment and systems in global energy, chemical
and other industrial markets.
Forward-Looking Statements
Statements set forth in this press release that are not historical facts
are forward-looking statements within the meaning of the federal
securities laws. These forward-looking statements are subject to
numerous risks and uncertainties, many of which are beyond the control
of National Oilwell Varco, Inc. and Robbins & Myers, Inc., which could
cause actual benefits, results, effects and timing to differ materially
from the results predicted or implied by the statements. Readers are
referred to documents filed with the Securities and Exchange Commission,
including National Oilwell Varco’s and Robbins & Myers' Annual Reports
on Form 10-K for the year ended December 31, 2011 and August 31, 2012,
respectively, recent Quarterly Reports on Form 10-Q and Current Reports
on Form 8-K filed by both companies, and Robbins & Myers’ final proxy
statement filed with the SEC on November 30, 2012 in connection with the
transaction, which identify significant risk factors and uncertainties
which could cause actual results to differ from those contained in
forward-looking statements. Neither National Oilwell Varco nor Robbins &
Myers undertakes any obligation to revise or update publicly any
forward-looking statements for any reason.
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Source: National Oilwell Varco, Inc.
National Oilwell Varco, Inc.
Jeremy Thigpen, 713-346-7301
jeremy.thigpen@nov.com
