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Technip To Pay $1.07B For Global Industries

France’s Technip is acquiring U.S. rival Global Industries.

France’s Technip is acquiring U.S. rival Global Industries. The European oil services company will pay about $1.073 billion in all for the acquisition. The deal is expected to be completed in early 2012.

As part of the deal, approved by Global’s board of directors, the stockholders of Global will get $8 for each share of Global’s common stock. Simmons & Co. International is financial adviser to the Global board on the transaction.

Click here for the release from PR Newswire.

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