Nabors industries Ltd. is set to acquire Tesco Corporation, a Houston-based oil field services company, in an all-stock deal. Tesco Corp. is based in Bermuda but its main offices are in Houston. Anthony Petrello, the president and chief executive officer of Nabors Industries, announced to the public details of the deal.
According to Petrello, the deal will be closed in the last quarter of 2017. Nabors will buy each of the company’s common shares at $4.62 each. This price is based on the closing price of Nabors’ stocks on August 11. This price is 19 percent higher than the value of Tesco’s stocks on the same day. In addition, the valuation represents a 30 percent premium of Tesco’s enterprise value, which is based on the company’s cash balance as on June 30, 2017.
The deal is expected to close earlier than 14th of February 2018. Once the deal is completed, the shareholders of Tesco will gain about 10 percent ownership of Nabors Shares. However, if the deal does not close by the given date, the two companies have agreed that Tesco will pay Nabors Industries $8 million. The exact details of the deal have been filled with the U.S. Securities and Exchange Commission (SEC). This information was originally published on Biz Journals as explicated in the following link https://www.wsj.com/articles/SB10001424127887324392804578358772612205556
Under the deal, Tesco’s rig equipment manufacturing and rental business will merge with Nabors’ rig equipment subsidiary, Canrig. Moreover, Nabors Drilling Solutions will be boosted by Tesco’s tubular services businesses.
Tesco is the designer and manufacturer of technology-based solutions to companies in the upstream energy sector. It also services the systems of their client companies to ensure that they are in ideal operating conditions. Nabors is the world’s largest land-based petroleum drilling company. The company is known to have the largest fleet of drilling rigs. Moreover, it owns a number of offshore platform rigs that are used by oil companies operating in the high seas. The company offers directional drilling services.
About Anthony Petrello
Anthony Petrello is one of the most influential executive leaders in the oil drilling industry. He is credited for enhancing the growth of the company. In 2014, Petrello was the highest paid American CEO with over $68.2 million in compensation. He holds a Juris Doctor (J.D) degree from the prestigious Harvard Law School. He is also an alumnus of Yale University where he earned his bachelors and master’s degree in mathematics.
Talk Fusion, a company created in 2007, focuses on network marketing. The company believes everything in the business is a team sport, with many people coming together to make things work. They produced the world’s first all-in-one Video Marketing Solution and the founder has now released an online training program via live broadcast.
Talk Fusion University
Designed as a training program, Talk Fusion University teaches watchers about network marketing and the secrets of the industry. Bob Reina, the company’s founder, decided to go live with the program on an international broadcast. With more than 25 years in the business, this man knows what it takes to be successful in the field and wants to impart his knowledge on others coming up in the industry.
The program immediately got released in English and Bahasa languages. It will get translated to Spanish, German, Czech, Chinese, Hungarian, Russian, French, and Japanese, so more people worldwide can gain access to the insightful information that will help their businesses improve. You need an associate ID to get into the University portal, which can get obtained once you purchase the initial marketing solution from the company and join as an associate. Once inside the system, you get to watch instructional videos, see step-by-step guides, receive motivational tips and instructions, and have access to various written resources from top experts in the field. Learn more: https://www.crunchbase.com/organization/talk-fusion
The Goals of Talk Fusion
Talk Fusion has been around for ten years, getting its start in 2007 when Bob Reina decided to help businesses stand out from others. The company’s goal is to assist companies with increasing their sales and profits and keeping customers coming back for more. They stress the importance of making marketing more engaging and memorable so potential buyers will stay interested in what you are selling. Independent associates sell the marketing solution to businesses worldwide.
The Spark Tank is one of the best things that ever happened to our business because it gave us the online exposure we needed, and this article explains how Marc Sparks did us many kindnesses through his program (http://sparktankdfw.com/). He wants to help a number of people like us, and he knows that his Spark Tank program brings in customers who would not be there any other way. I am pleased with my time at the Spark Tank, and I know that Marc is a brilliant man who will continue to help us. Learn more: https://www.amazon.com/They-Cant-Eat-Marc-Sparks/dp/0990495000
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Marketing for our brands came through the Spark Tank, and Marc ensured that we were able to have more customers come in while he mentored us. This was a small part of the program, but it helped us increase sales while we learned.
There is a mentoring process that Marc takes everyone through, and he teaches us about business in a way that many of us do not understand. We are idea people who know how to manage our ideas, but we do not know how to build companies around these ideas. I was pleased to have a way to talk about the concerns I had with my business, and I know that I may contact Marc at any time. He is a fine mentor who will stay by our side until we are stable as a company. Learn more: http://thebrotalk.com/bro-recommendations/dallas-entrepreneur-marc-sparks-spills-must-visit-list-wineries-dfw/
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We did not win the prize at the Spark Tank, but I was pleased to see that some of our colleagues did well in the program. We all benefited from the program, and it was a lovely time for all of us to network. We wanted to be a part of something that’s was much larger than ourselves, and I believe that we found that by using the Spark Tank program. Learn more: http://www.prnewswire.com/news-releases/entrepreneur-marc-sparks-transforms-office-to-optimize-innovative-collaboration-300024747.html
Marc Sparks has done quite a lot for us and our business, and we know that he is making a difference that we could not have judged. We are a much better business because of what Marc has done, and he has shown us how to grow our ideas into something special.