MRC Global gains on $1.5 billion acquisition by DNOW

DNOW

27/06/2025 10:58

** Shares of global energy equipments distributor MRC Global MRC.N up 13.5% at $15.13 premarket

** Energy and industrial products supplier DNOW DNOW.N on Thursday said it would buy MRC Global MRC.N in an all-stock deal valued at $1.5 billion, including debt

** The combined company will operate over 350 service and distribution locations in over 20 countries

** Expected to generate $70 million of annual cost synergies within three years following closing

** Deal also expected to be accretive to adjusted earnings per share in the first year following closing

** Under the agreement, MRC shareholders will receive 0.9489 of DNOW shares for each MRC share

** Transaction expected to close in Q4

** As of last close, MRC shares up 4.2% YTD

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))