This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Robbins & Myers And National Oilwell Varco Receive Supplemental Information Request Under Competition Act Of Canada And Are In Discussions With The Department Of Justice Regarding A Timing Agreement

Stock quotes in this article: RBN

HOUSTON, Dec. 7, 2012 /PRNewswire/ -- Robbins & Myers, Inc. (NYSE: RBN) announced today that it and National Oilwell Varco, Inc. have each received a supplemental information request for information and documents from the Canadian Competition Bureau (the "Bureau") in connection with the proposed merger transaction in which National Oilwell Varco would acquire all of the outstanding shares of Robbins & Myers for $60.00 per share in cash.  The supplemental information request was issued under the Competition Act of Canada (the "Act").

The effect of this request is to extend the waiting period imposed by the Act until 30 days after Robbins & Myers and National Oilwell Varco  have each complied with the request (unless that period is extended voluntarily by the parties or terminated sooner by the Bureau).  While Robbins & Myers intends to respond expeditiously to the request (and expects National Oilwell Varco to do the same), compliance with the request followed by the 30-day statutory waiting period will push the closing into 2013 unless the waiting period is terminated sooner by the Bureau.

Robbins & Myers also announced today that it and National Oilwell Varco are in discussions with the United States Department of Justice ("DOJ") regarding a timing agreement to allow the DOJ additional time to complete its review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.  The terms of the timing agreement have not been finalized, but will extend the review period past December 31, 2012. 

As previously announced, Robbins & Myers has scheduled its special meeting of shareholders to consider approval of the merger for December 27, 2012. 

About Robbins & Myers

Robbins & Myers, Inc. is a leading supplier of engineered, application-critical equipment and systems in global energy, chemical and other industrial markets.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs