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National Oilwell Varco And Robbins & Myers Receive Clearance

HOUSTON, Feb. 19, 2013 /PRNewswire/ -- National Oilwell Varco, Inc. (NYSE: NOV) and Robbins & Myers, Inc. (NYSE: RBN) jointly announced today that the Antitrust Division of the United States Department of Justice has closed its investigation of the parties' previously announced merger.  NOV and RBN also received today a no action letter from the Canadian Competition Bureau.  Having received clearance from the United States and Canada, NOV and RBN expect to complete the merger tomorrow, February 20, 2013.  The transaction has been cleared without modification.  

About National Oilwell Varco, Inc.

National Oilwell Varco, Inc. is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.

About Robbins & Myers, Inc.

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

Forward-Looking Statements

Statements set forth in this press release that are not historical facts are forward-looking statements within the meaning of the federal securities laws.  These forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond the control of National Oilwell Varco, Inc. and Robbins & Myers, Inc., which could cause actual benefits, results, effects and timing to differ materially from the results predicted or implied by the statements.  Readers are referred to documents filed with the Securities and Exchange Commission, including National Oilwell Varco's and Robbins & Myers' Annual Reports on Form 10-K for the year ended December 31, 2012 and August 31, 2012, respectively, Robbins & Myers' recent Quarterly Report on Form 10-Q, the Current Reports on Form 8-K filed by both companies, and Robbins & Myers' final proxy statement filed with the SEC on November 30, 2012 in connection with the transaction, which identify significant risk factors and uncertainties which could cause actual results to differ from those contained in forward-looking statements.  Neither National Oilwell Varco nor Robbins & Myers undertakes any obligation to revise or update publicly any forward-looking statements for any reason.

SOURCE Robbins & Myers, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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