A year after its spinoff from National Oilwell Varco (NOV), NOW Inc.(DNOW) continues to roll up distributors with the acquisition of Odessa Pumps, its eighth acquisition since the spin. Robert Workman, President and CEO of NOW Inc., commented, “The addition of Odessa Pumps and Equipment not only offers DistributionNOW the ability to expand our products and services offerings… Read More »
Titans of the hedge fund industry, including John Paulson, Carl Icahn, Nelson Peltz (and many more), gathered at the Pierre Hotel this past Wednesday for CNBC’s Delivering Alpha conference. There was a lot of Fed talk (Stanley Druckenmiller is not a fan), musings on the economy and of course, the proverbial ‘talking up the book’. It took a… Read More »
Last week featured a full line up of spinoffs with Simon Property Group (SPG) spinning off the Washington Prime Group (WPG) on Wednesday, May 28, and National Oilwell Varco (NOV) and Oil States International (OIS) spinning off NOW Inc (DNOW) and Civeo (CVEO) respectively on Friday, May 30. The new companies are all significant enough to force a reshuffle of… Read More »
National Oilwell Varco (NOV) completed the spinoff of its distribution company, NOW Inc (DNOW) last week. The new company trades under the ticker ‘DNOW’ and NOV shareholders should have received 1 share of the new company for every 4 NOV shares owned. The spin was completed after the close at the end of May, but today will mark… Read More »
National Oilwell Varco’s (NOV) board of directors recently approved the spinoff of its distribution business, Now Inc, and the spinoff will take place on May 30th to shareholders of record on May 22nd. The new company will trade on the NYSE under the ticker ‘DNOW’ and NOV shareholders will receive 1 share of DNOW for every 4 NOV shares… Read More »
National Oilwell Varco (NOV) recently announced plans to spin off its distribution business to shareholders sometime in the first half of next year. Its MRO business won’t be the only thing leaving the company though, as current Chairman and CEO Merill ‘Pete’ Miller will be stepping down from his post and joining the new company as Executive Chairman.… Read More »
In late September, National Oilwell Varco (NOV) announced that it would spin off its distribution business, a unit which provides MRO supplies to the energy and industrial markets, into a standalone entity. According to CEO & Chairman Pete Miller, after a series of acquisitions from Schlumberger (SLB) last year, the business is now large enough (both in size… Read More »