Halliburton May Bid on Expro This Weekadmin
Oilfield services company Halliburton Inc. is expected to decide this week if it will launch a $3.5 billion counteroffer for its U.K. rival Expro International Group PLC, according to the Daily Telegraph. Halliburton has been conducting due diligence on the company since Expro agreed to accept a $28-per-share takeover offer from a consortium made up of private equity firms Candover, Alpinvest and Goldman Sachs.
The newspaper says Halliburton has until this weekend to decide on a formal bid, under U.K. rules. Expro shareholders meet June 2 to decide on Candover’s offer.