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Article: Oil equipment company Expro confirms conditional takeover bid from Halliburton
- Article from:
- AP Worldstream
- Article date:
- May 23, 2008
- Author:
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A full blown takeover battle erupted for European oil field contractor Expro International Group PLC on Friday as an initial bid from Halliburton Co. was swiftly followed by a sweetened offer from a private equity consortium led by London-based Candover Group.
The confirmation of Expro as a clear takeover target sent its shares soaring 5.5 percent to 1,626 pence (US$32.22; euro20.47) on the London Stock Exchange.
Houston-based Halliburton, which had first flagged its interest in Expro last month, made an all-cash proposal of 1,525 pence (US$30.14; euro19.12) per share before the market opened, valuing the British-based company at 1.7 billion pounds (US$3.36 billion; ...