Logan International Inc. (LII.TO) has agreed to buy the majority of Smith International Inc.'s North American Sup-R-Jar rental and service assets line.
In addition, Logan will also receive raw materials and parts inventories, manufacturing specifications and use of the Sup-R-Jar trade name. The purchase price includes the assumption of certain post-closing liabilities and $17.2 million in cash, $15.6 million of which is payable at closing with the remaining $1.6 million payable on delivery of certain inventory items. The transaction is expected to close in early April 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.