Wednesday, June 09, 2010

Halliburton Buys Oil Spill Cleanup Company Boots & Coots Inc. Eight (8) Days Before Deepwater Horizon Explosion

Is this acquisition of Boots & Coots Inc. a coincidence considering Halliburton's connection to the Deepwater Horizon rig?

Halliburton Co. (NYSE: HAL - News) – one of the largest oilfield service providers in the world – has agreed to acquire well-intervention firm Boots & Coots Inc. (AMEX: WEL - News) for about $240.4 million in stock and cash. The transaction, which has been approved by the boards of both the companies but is still subject to regulatory and shareholder approvals, is expected to close by summer.

Yahoo Finance

No comments: