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Article: Ponder Industries signs letters of intent to acquire Runyon Oil Tools and Dikor.
- Article from:
- Business Wire
- Article date:
- March 1, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ALICE, Texas--(BUSINESS WIRE)--March 1, 1996--Ponder Industries, Inc. (NASDAQ:PNDR)(BSE:PND), today announced it has signed letters of intent to acquire two southern Illinois-based oil and gas service companies for approximately $1,350,000, primarily in Ponder common stock, which will be anti-dilutive.
Runyon Oil Tools, located in Olney, Ill., provides packer services throughout the southern Illinois and Indiana region. DIKOR, Inc., located in Carmi, Ill., provides fishing, coring, and rental tool services throughout the Midwest. The aggregate annual revenue of the companies is approximately $1,200,000, with operating profits of about $300,000.
"This is ...
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Article: Ponder to buy 2 firms.(Ponder Industries Inc., ...
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...In its second and third acquisitions of 1996, Ponder Industries Inc. signed letters of intent Friday to buy a pair ... executive. Ponder bought the Scottish company Panther Oil Tools in January for $2.4 million in cash and stock.
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