Expro Delays Shareholder Meeting After $3.43 Billion Bid

By: Associated Press Email
By: Associated Press Email

LONDON (AP) - European oil field contractor Expro postponed a
shareholder meeting to approve a takeover bid from a private equity
That's after the equity group raised its offer to 3.43 billion
dollars to block a rival approach from Houston-based Halliburton
Expro International Group PLC said today it's delaying the
meeting originally scheduled for June 2nd to June 9th to give
shareholders "sufficient opportunity to consider the revised
Expro found itself at the center of a bidding contest on Friday
when Halliburton tried to sour a deal with Umbrellastream Limited,
which last month made a $28.36-per-share per share offer.
Halliburton topped that offer Friday with an all-cash bid of
$30.14 per share, or 3.36 billion dollars. Umbrellastream quickly
countered with its own sweetened offer of $30.63 per share.
Expro recommended that shareholders accept the revised
Umbrellastream proposal.

Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, Trolling or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@kbtx.com. Please provide detailed information.

powered by Disqus
KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-1888
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 19285754 - kbtx.com/a?a=19285754
Gray Television, Inc.