Wood Group, the international energy services company, has confirmed that is has received anti-trust approval from the US Federal Trade Commission for its proposed acquisition of Mitchell's Oil Field Services.
The conditions of the acquisition have now been satisfied, and the transaction is now expected to be completed by October 22nd.
As previously announced, the $135m acquisition significantly increases the company's presence in the US Bakken shale region and is expected to be earnings-enhancing from completion.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Further earn out payments are due in the period to 2015, depending on the future performance of Mitchell.
The share price rose 0.12% to 834.50p.
NR
-
New Chase bonus deal takes savings rate to 4.75% – is it worth it?Chase’s latest savings deal propels it into first place in the best-buy tables, but there are some pitfalls to look out for
-
Review: Trasierra – a yoga retreat in the Spanish hillsFlora Connell joins a yoga retreat at Trasierra, in the Sierra Morena mountains north of Seville
