Nabors Industries ( (NBR) ) has provided an announcement.
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Nabors Industries has announced its acquisition of Parker Wellbore, aiming to strengthen its global drilling solutions business. The deal, involving the exchange of 4.8 million shares and $100 million in net debt, is set to enhance Nabors’ scale and leverage metrics. Parker, known for its tubular rental and repair services, complements Nabors’ portfolio, promising immediate cash flow benefits and significant synergy potential. The merger is expected to close in early 2025, pending customary approvals.
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