Nabors Announces Agreement to Acquire Tesco Corporation in an All-Stock Transaction
Summary
The combination will provide significant value to Tesco shareholders by participating in a stronger and broader offering of complementary rig equipment product lines and tubular services." Fernando Assing, Tescos President and Chief Executive Officer, commented, "This is a very exciting opportunity to combine two world class companies that are highly focused on delivering best-in-class services to the oil and gas industry. We are excited about Tescos respected management team and highly skilled employees joining Nabors and helping to deliver the benefits of this combination to our customers and shareholders." WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION about Tesco, Nabors and the proposed transaction. Tesco and its directors, executive officers and certain other members of management and employees may be deemed to be participants in the solicitation of proxies for its security holder approvals to be obtained for the proposed transaction.
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