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Posted: 10:52 a.m. Thursday, Dec. 27, 2012
Robbins & Myers Inc., which has operations in Springfield, announced Thursday that company shareholders approved the merger of Robbins & Myers with National Oilwell Varco Inc.
Based on the terms of the merger agreement, Robbins & Myers will become a wholly-owned subsidiary of National Oilwell Varco and shareholders of Robbins & Myers will receive $60 cash for each outstanding common share. The Merger was approved by the holders of approximately 85.7 percent of the outstanding shares of Robbins & Myers entitled to vote on the transaction, the company said.
The closing of the merger is subject to certain closing conditions, including regulatory review.
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