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Halliburton Establishes New Product Service Line, Announces Agreement to Acquire Boots & Coots and Combine with Current Assets
April 28th, 2010
Halliburton (NYSE: HAL) and Boots & Coots (NYSE Amex: WEL) jointly announced that Halliburton has entered into a definitive merger agreement to acquire all of the outstanding stock of Boots & Coots in a stock and cash transaction.
Marc Edwards, Halliburton's Senior Vice President of Completion and Production, said, "Optimizing economic production levels in both mature assets and unconventional gas resources requires increasing levels of pressure control and well intervention. The combination of Halliburton's global hydraulic workover and coiled tubing deployed technologies, together with Boots & Coots' well intervention and pressure control services will help us improve...
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Source: VerticalNews Mergers & Acquisitions (2010-04-28)