abce certificate
Sunday, 20 July, 2008, 02:20 GMT | more prices >>

Halliburton 'eyeing Expro counterbid'



By Upstream staff 

US oilfield services giant Halliburton is weighing up making a counterbid for UK player Expro International, sources close to the situation claimed today.

Yesterday Expro said it had agreed a £1.61 billion ($3.17 billion) bid from funds managed by private equity outfit Candover and investment bank Goldman Sachs.

The oil services company added in its statement that another party, which had been given access to its books, continued to carry out due diligence.

Halliburton confirmed today it is in talks to buy Expro International Group with a bid that would top the Candover offer.

Expro accepted Candover's bid without giving other parties a deadline by which to submit bids, the normal practice in company auctions, the spokesman said.

Houston-based Halliburton said it would make an offer in cash in a statement distributed by the Regulatory News Service, reported Bloomberg.


Friday, 18 April, 2008, 09:19 GMT  | last updated: Friday, 18 April, 2008, 15:27 GMT

Flagged up? sources told Reuters that halliburton may make a counterbid for Expro
 

e-mail this article to a colleague


to email:  from:
comments: