DRIL-QUIP, INC. (DRQ) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01
On November 10, 2016, Dril-Quip, Inc. (“Dril-Quip”) completed the previously announced acquisition of all of the outstanding shares of common stock, par value $100.00 per share, of TIW Corporation, a Texas corporation, for a cash purchase price of $142.7 million, adjusted to the Stock Purchase Agreement described herein (the “Acquisition”). The Acquisition closed to a Stock Purchase Agreement, dated as of October 14, 2016, by and between Dril-Quip and Pearce Industries, Inc. Dril-Quip funded the consideration for the Acquisition with cash on hand. The terms of the Acquisition were approved by the board of directors of Dril-Quip.
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