Effective April 21, 2008
National Oilwell Varco, Inc. Announces Successful Acquisition of Grant Prideco, Inc.
National Oilwell Varco, Inc. today announced the approval by the stockholders of Grant Prideco, Inc. of the previously announced merger agreement entered into by and among National Oilwell Varco, a wholly owned subsidiary of National Oilwell Varco and Grant Prideco at a special meeting of Grant Prideco's stockholders held earlier today and the completion of National Oilwell Varco's acquisition of Grant Prideco pursuant to the merger agreement.
"We are delighted with the way this transaction advances our strategic goal of providing more products and services to our customers. We believe Grant Prideco's product range will add new growing market segments to National Oilwell Varco and benefit our customers' needs worldwide. We believe this transaction will afford excellent opportunities for the stockholders and customers of both companies. We look forward to welcoming Grant Prideco's employees to the National Oilwell Varco organization and working together to realize the new opportunities we expect to achieve from this combination." |
| - Pete Miller, Chairman, President and CEO of National Oilwell Varco |
PLEASE TAKE NOTICE OF THE FOLLOWING:
Grant Prideco will begin the transition of its current website (www.grantprideco.com) to the National Oilwell Varco website (www.nov.com). During this transition www.grantprideco.com will remain up and functioning until completion.
National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.
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Continue to NOV.com |
Grant Prideco is a world leader in drill stem technology development and drill pipe manufacturing, sales and service as well as a global leader in drill bit and specialty tools, manufacturing, sales and service; and a leading provider of high-performance engineered connections and premium tubular products and services.
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Continue to GrantPrideco.com |
