Smith International, Inc. on the Extension of W-H Energy Exchange Offer
Saturday, August 2nd 2008
Smith International, Inc. and W-H Energy Services, Inc. told the press that the expiration date of the exchange offer to acquire the outstanding shares of W-H has been extended until 12:00 midnight, Eastern time, at the end of Friday, August 8, 2008, unless extended further. Based on a preliminary count by the exchange agent for the exchange offer there were tendered, and not withdrawn, 3,992,249 shares of W-H common stock as of August 1, 2008.
The applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has not yet expired or been terminated. The Hart-Scott-Rodino (“HSR”) waiting period will expire at 11:59 p.m., Eastern time, on August 18, 2008, unless early termination of the waiting period is granted or Smith or W-H receives a request for additional information or documentary material. Smith remains very confident that all required regulatory approvals will be received.
Smith is a leading supplier of premium products and services to the oil and gas exploration and production industry through its four principal business units – M-I SWACO, Smith Technologies, Smith Services and Wilson.
W-H is a diversified oilfield services company that provides products and services used in connection with the drilling and completion of oil and natural gas wells and the production of oil and natural gas. W-H has operations in North America and select areas internationally.
Smith International, Inc. Margaret K. Dorman, 281-443-3370 Chief Financial Officer or W-H Energy Services, Inc. Shawn M. Housley, 713-974-9071
Director of Investor Relations
Source: Smith International, Inc. and W-H Energy Services, Inc.