Robbins & Myers, Inc./T-3 Energy Services, Inc.
On October 6, 2010, Robbins & Myers, Inc. (NYSE: RBN) and T-3 Energy Services, Inc. (Nasdaq: TTES) announced that they entered into a definitive agreement whereby Robbins & Myers would acquire T-3 for a consideration of $422 million in cash and stock.
T-3 stockholders will receive 0.894 common shares of Robbins & Myers plus $7.95 in cash in the transaction. T-3 stockholders collectively will own approximately 27% of Robbins & Myers' outstanding shares upon closing.
Robbins & Myers expects the transaction to be accretive to Robbins & Myers' earnings per share during the first full year of ownership excluding one-time transaction costs.
The transaction is expected to close in Q410 or Q111.
UBS Securities LLC is acting as financial advisor and Thompson Hine LLP is acting as legal counsel for Robbins & Myers.
For T-3, Simmons & Company International is acting as financial advisor and Vinson & Elkins LLP is acting as legal counsel.
T-3 stockholders will receive 0.894 common shares of Robbins & Myers plus $7.95 in cash in the transaction. T-3 stockholders collectively will own approximately 27% of Robbins & Myers' outstanding shares upon closing.
Robbins & Myers expects the transaction to be accretive to Robbins & Myers' earnings per share during the first full year of ownership excluding one-time transaction costs.
The transaction is expected to close in Q410 or Q111.
UBS Securities LLC is acting as financial advisor and Thompson Hine LLP is acting as legal counsel for Robbins & Myers.
For T-3, Simmons & Company International is acting as financial advisor and Vinson & Elkins LLP is acting as legal counsel.
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