Robbins & Myers Inc. (RBN: Quote) announced Thursday morning that it agreed to be acquired by National Oilwell Varco (NOV: Quote) in an all cash transaction that valued at approximately $2.5 billion. Closing would be expected to occur in the fourth quarter of calendar 2012.
Robbins & Myers gapped open dramatically higher Thursday, but traded in a narrow range throughout the session. The stock closed up by 12.83 at $59.63 on the highest volume of the year and leaped to a new 52-week high.
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by RTT Staff Writer
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