Article: Ponder Does More Fishing.

Houston-based Ponder Industries Inc. said Wednesday that it has signed a letter of intent to buy COT Oil Tool Inc. for about $2.2 million in cash and $700,000 in Ponder common stock. The deal is expected to close in May.

COT has three sites in Texas specializing in a wide variety of fishing and rental tools for the oil field industry.

The deal is aimed ...

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