Robbins & Myers and National Oilwell Varco Receive Second Request under Hart-Scott-Rodino Act
Robbins & Myers, Inc. and National Oilwell Varco, Inc. announced today that they each had received a request for additional information and documents from the U.S. Justice Department (often referred to as a “second request”) in connection with the proposed merger transaction in which National Oilwell Varco would acquire all of the outstanding shares ofRobbins & Myers for $60.00 per share in cash. The second request was issued under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”).
The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days afterRobbins & Myers and National Oilwell Varco have substantially complied with the second request (unless that period is extended voluntarily by the parties or terminated sooner by the Department of Justice). Robbins & Myers and National Oilwell Varco intend to respond expeditiously to the Second Request and expect to close the transaction soon thereafter.
In addition to expiration or termination of the waiting period under the HSR Act, the proposed merger remains subject to other customary closing conditions, including approval by the shareholders of Robbins & Myers.
