Allis-Chalmers to Pay More in Merger with Edmond-Based Bronco Drilling
The Journal Record › June 04, 2008
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Summary
Allis-Chalmers Energy Inc. has amended the merger it made with Bronco Drilling and will pay about 12 percent more in the deal with the Edmond-based company, officials said Monday.
On Jan. 24, Allis-Chalmers agreed to spend $438 million to acquire stock in Bronco, but the cost moved to $489 million due to an increase in the value of Bronco's stock. Allis-Chalmers stockholders will own 68 percent of the company and Bronco stockholders will own 32 percent.See the full content of this document
Extract
Allis-Chalmers to Pay More in Merger with Edmond-Based Bronco Drilling
The amended terms indicated Bronco Drilling will receive $200 million cash and more t...
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