Superior Drilling Products up on buyout offer from Drilling Tools International

Drilling Tools International

07/03/2024 11:48

** Shares of Superior Drilling Products  SDPI.A  climb 50.4%
to $1.06 premarket
    ** Drilling Tools International  DTI.O  to buy SDPI for
$32.2 mln in cash and stock
    ** "The acquisition of SDP broadens our growth
opportunities, both domestically and internationally, with a
particular focus on expanding our presence in the Middle East" -
DTI CEO Wayne Prejean
    ** Deal expected to close in Q3 2024
    ** SDPI down 1.3% YTD

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
 ;))