Expro gets $3.36B bid from Halliburton
LONDON–Halliburton has made a conditional bid of US$3.36 billion for Expro International Group PLC, the British oil services firm said Friday.
Halliburton's all-cash proposal of US$30.14 per share is richer than the US$28.36 per share offer made in April by a consortium led by Candover Partners Limited, valuing the company at US$3.16 billion.
An Expro statement said the Halliburton Co. proposal "does not yet constitute a firm intention to make an offer" and was subject to preconditions.
Halliburton, which provides services and equipment to oil and natural gas companies, said it considers Expro's sub-sea and flow management sector to be an area of potential expansion pay day advance. Expro's primary focus is providing services and products to measure and control the flow of oil and gas from wells.