Robbins & Myers (RBN): Come for the Blowouts, Stay for the Fracking
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According to an interview conducted by Bloomberg with National-Oilwell Varco (NYSE: NOV) CFO Clay Williams, the company made the $60-per-share deal for Robbins & Myers (NYSE: RBN) for its blowout preventer gear.
In addition, Williams said National-Oilwell also likes Robbins & Myers for its hydrofracking equipment, which he believes will be helpful in the "long run."
National-Oilwell expects the deal to be accretive in 2013.
Shares of National-Oilwell are up 0.9 percent as investors cheer the deal. Robbins & Myers is up about 27.5 percent.
In addition, Williams said National-Oilwell also likes Robbins & Myers for its hydrofracking equipment, which he believes will be helpful in the "long run."
National-Oilwell expects the deal to be accretive in 2013.
Shares of National-Oilwell are up 0.9 percent as investors cheer the deal. Robbins & Myers is up about 27.5 percent.
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