Cameron to Acquire NATCO
Wednesday, June 3, 2009
Cameron and NATCO Group Inc. have entered into an agreement under which Cameron will acquire NATCO in an all-stock transaction that values NATCO at approximately $780 million, based on Cameron's closing stock price on June 1, 2009. Under the agreement, NATCO shareholders would receive 1.185 shares of Cameron common stock in return for each of NATCO's approximately 20.3 million shares outstanding. The boards of directors of both Cameron and NATCO have unanimously approved the transaction, which is expected to close during the third quarter of 2009, subject to regulatory approvals, approval by a majority of NATCO's shareholders and other conditions.
NATCO is a provider of process equipment, systems and services, including proprietary equipment and technologies, to the worldwide oil and gas industry. NATCO has approximately 2,400 employees and generated revenues of more than $650 million during 2008. More…
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