Nabors/Superior Well Services Merger
On August 9, 2010 Nabors Industries Ltd. (NYSE: NBR) announced an agreement acquire smaller oilfield services company Superior Well Services Inc. (NASDAQ: SWSI) for about $900 million in an all cash deal.
According to the terms of the deal, Nabors will purchase Superior for $22.12 per share, representing a premium of roughly 21 percent over the closing price of $18.23 for the company's stock on Friday.
Nabors said that it expects to see a positive impact on earnings by 2011.
The deal is expected to close by the end of the third quarter, as shareholders of about 34 percent of the outstanding stock for Superior have agreed to tender their shares.
