NBR Inks $372M Deal to Snap Up Parker Wellbore: Here's Why

Nabors Industries Ltd.(NBR) has agreed to acquire Parker Wellbore, a leading rental provider company for downhole tubulars in the United States. The company has closed the deal at a consideration of 4.8 million shares of its common stock for an overall transaction value of around $372 million based on Monday's closing price. NBR has also agreed to assume a net debt of about$100 million. Overview of NBR's Acquisition The acquisition agreement between NBR and Parker Wellbore has been approved by the board of ...