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Re: DewDiligence post# 3191

Monday, 10/10/2011 1:51:49 AM

Monday, October 10, 2011 1:51:49 AM

Post# of 30494
SPN acquires CPX for $32.90/sh in cash and stock:

http://finance.yahoo.com/news/Superior-Energy-Services-Inc-prnews-3049050279.html?x=0&.v=1

The consideration for each share of CPX is 0.945 shares of SPN plus $7 in cash. SPN shareholders will end up owning 52% of the combined company, which is why the companies are billing this as a “merger of equals.”

The annual revenue of the combined company is about $4B, which is 10-15% as much as industry leader SLB and about four times as much as my favorite oil-services company, CLB.

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