Halliburton Trumps Other Suitor by Offering $3.4 Billion for Deep-Sea-Oil Expert
Posted on May 24, 2008 at 11:00 AM EDT
Halliburton Company (HAL) , the world’s second-largest oil-services firm, has made a $3.4 billion (1.71 billion pounds) cash offer for U.K.-based Expro International Group PLC (PINK: EXPRF). The bid - announced today (Friday) - could touch off a bidding battle for the British oil-services firm, which already has another suitor. The Halliburton bid represents a 6.2% premium over the $3.2 billion bid of a private-equity consortium that includes Candover Partners Ltd., a wholly owned subsidiary of Candover Investments PLC, and Goldman Sachs Group Inc. (GS). “This is not over as I think Candover will come back with another bid,” Jane Coffey, head of equities at… SHARETHIS.addEntry({ title: "Halliburton Trumps Other Suitor by Offering $3.4 Billion for Deep-Sea-Oil Expert", url: "http://jutiagroup.com/2008/05/24/halliburton-trumps-other-suitor-by-offering-34-billion-for-deep-sea-oil-expert/" });