Cameron Completes NATCO Acquisition
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Cameron Compression Systems
16250 Port Northwest Dr.
Houston, TX, 77041
Press release date: November 18, 2009
HOUSTON, Nov. 18 - Cameron (NYSE:CAM) has closed on its acquisition of NATCO Group Inc., following the approval of the previously announced merger agreement by NATCO's shareholders at a special meeting held earlier today. NATCO shareholders received 1.185 shares of Cameron common stock in return for each share of NATCO common stock held, and will receive cash reflecting the value of any fractional shares. Cameron has issued approximately 23.7 million shares related to this transaction.
Cameron President and Chief Executive Officer Jack B. Moore said, "We are pleased to add NATCO's talented people and complementary businesses to the Cameron organization, and we look forward to moving ahead with the integration process. As previously noted, we expect the acquisition to favorably impact our profitability in 2010, after adjusting for any integration costs."
Simmons & Company International served as financial advisor to Cameron on this transaction.
Cameron (NYSE:CAM) is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries.
R. Scott Amann,
Investor Relations of Cameron,
Web Site: http://www.c-a-m.com/