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re: Oilfield rumors
Posted on 4/17/14 at 1:35 pm to Polar Pop
Posted on 4/17/14 at 1:35 pm to Polar Pop
quote:
Interesting, please elaborate.
This is all I could find in a quick search, but read somewhere the day that this is supposed to happen as soon as this quarter. Also heard a rumor Pete Miller may be the CEO of the spin off.
quote:
National Oilwell Varco, Inc. (NYSE: NOV) announced that its Board of Directors has authorized Company management to move forward with exploration of a plan to spin-off NOV's distribution business from the remainder of the Company, creating two stand-alone, publicly traded corporations. The Company believes that the separation of the distribution business can be accomplished via a tax-efficient spin-off to NOV shareholders.
LINK
I don't think this should come as a total shock as the distribution business has very low margins compared to NOV's other business units.
This release was on Scottrade:
quote:
NOV also announced that NOW Inc. has filed its amended Form 10 with the Securities and Exchange Commission. Copies of the document are available on the NOV website. The company anticipates the spin will be completed in the second quarter of 2014.
This post was edited on 4/17/14 at 1:39 pm
1
Posted on 4/17/14 at 10:52 pm to TJG210
quote:
Wilson spinning off
I can verify this is happening and very soon.
This post was edited on 4/17/14 at 10:52 pm
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