National Oilwell Completes Wilson Int'l Acquisition

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5/31/2012 4:55 PM ET

National Oilwell Varco Inc. (NOV: Quote) Thursday said it completed acquisition of Wilson International from Schlumberger Ltd. (SLB).

Schlumberger has committed to divest the remaining portion of its distribution business by agreeing to support National Oilwell's previously announced proposed acquisition of all outstanding shares of CE Franklin Ltd. (CFK, CFT.TO) for C$12.75 per share in cash. Schlumberger owns 9.73 million shares of CE Franklin, or about 56 percent of CE Franklin's outstanding shares.

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