Robbins & Myers Inc. (RBN) announced Thursday morning that it agreed to be acquired by National Oilwell Varco (NOV) 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 has gapped open sharply higher this morning and is now up 12.56 at $59.36 on the highest volume of the year. The stock has leaped to a new high for the year.
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