Latest news with #MRCGlobal
Globe and Mail
a day ago
- Business
- Globe and Mail
MRC GLOBAL INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of MRC Global Inc.
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ('KSF') are investigating the proposed sale of MRC Global Inc. (NYSE: MRC) to DNOW Inc. (NYSE: DNOW). Under the terms of the proposed transaction, shareholders of MRC will receive 0.9489 shares of DNOW for each share of MRC that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( toll free at any time at 855-768-1857, or visit to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit
Yahoo
5 days ago
- Business
- Yahoo
Why Is DistributionNOW (DNOW) Stock Soaring Today
Shares of energy and industrial distributor DistributionNOW (NYSE:DNOW) jumped 9.8% in the morning session after the company announced it will merge with MRC Global in an all-stock transaction. The deal will create a leading energy and industrial solutions provider with a combined enterprise value of approximately $3.0 billion. Under the terms of the agreement, MRC Global shareholders will receive 0.9489 shares of DNOW common stock for each share of MRC Global they own. Upon closing, DNOW shareholders will own approximately 56.5% of the combined company, with MRC Global shareholders owning the remaining 43.5%. The merger is expected to generate significant value for shareholders, with an estimated $70 million in annual cost savings within three years. The combination is also projected to be accretive to adjusted earnings per share in the double-digits within the first year after the deal is finalized. This strategic move combines the complementary footprints of both companies across key energy and industrial centers in the United States. Is now the time to buy DistributionNOW? Access our full analysis report here, it's free. DistributionNOW's shares are somewhat volatile and have had 10 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 4 months ago when the stock gained 20.3% on the news that the company reported strong fourth-quarter results, significantly surpassing analysts' sales, EPS, and EBITDA estimates. The company also doubled the size of its share repurchase program to $160m, highlighting the focus on returning value to shareholders. Zooming out, we think this quarter featured some important positives. DistributionNOW is up 25.4% since the beginning of the year, and at $16.24 per share, it is trading close to its 52-week high of $17.59 from February 2025. Investors who bought $1,000 worth of DistributionNOW's shares 5 years ago would now be looking at an investment worth $1,895. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Why MRC Global (MRC) Stock Is Up Today
Shares of fluid and gas handling company MRC (NYSE:MRC) jumped 16.4% in the morning session after the company agreed to be acquired by rival DNOW Inc. (NYSE: DNOW) in an all-stock transaction valued at approximately $1.5 billion. The deal creates a combined entity described as a "premier energy and industrial solutions provider" with over 350 locations in more than 20 countries. Under the agreement, MRC Global shareholders will receive 0.9489 shares of DNOW common stock for each MRC share they own. This represents a premium of 8.5% to MRC Global's 30-day volume-weighted average price as of June 25, 2025. The merger is expected to generate significant cost savings, with the companies targeting $70 million in annual synergies within three years. The transaction, which has been unanimously approved by both boards of directors, is anticipated to close in the fourth quarter of 2025, pending shareholder and regulatory approvals. Upon completion, DNOW shareholders will own about 56.5% of the combined company, with MRC Global shareholders holding the remaining 43.5%. Is now the time to buy MRC Global? Access our full analysis report here, it's free. MRC Global's shares are somewhat volatile and have had 10 moves greater than 5% over the last year. But moves this big are rare even for MRC Global and indicate this news significantly impacted the market's perception of the business. MRC Global is up 20.5% since the beginning of the year, and at $15.31 per share, has set a new 52-week high. Investors who bought $1,000 worth of MRC Global's shares 5 years ago would now be looking at an investment worth $2,475. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
5 days ago
- Business
- Associated Press
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MRC, TSBX, DNOW on Behalf of Shareholders
NEW YORK, June 27, 2025 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: MRC Global Inc. (NYSE: MRC)'s sale to DNOW Inc. for 0.9489 shares of DNOW common stock for each share of MRC common stock. If you are a MRC shareholder, click here to learn more about your legal rights and options. Turnstone Biologics Corp. (NASDAQ: TSBX)'s sale to XOMA Royalty Corporation for $0.34 in cash per share plus one non-transferable contingent value right. If you are a Turnstone shareholder, click here to learn more about your legal rights and options. DNOW Inc. (NYSE: DNOW)'s merger with MRC Global Inc. Upon completion of the proposed transaction, DNOW shareholders will own approximately 56.5% of the combined company on a fully diluted basis. If you are a DNOW shareholder, click here to learn more about your legal rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected]. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Halper Sadeh LLC Daniel Sadeh, Esq. Zachary Halper, Esq. (212) 763-0060 [email protected] [email protected] View original content to download multimedia: SOURCE Halper Sadeh LLP
Reuters
6 days ago
- Business
- Reuters
DNOW to acquire MRC Global in $1.5 billion all-stock deal
June 26 (Reuters) - Energy and industrial products supplier DNOW (DNOW.N), opens new tab said on Thursday it would buy MRC Global (MRC.N), opens new tab in an all-stock deal valued at $1.5 billion, including debt. The combined company will operate over 350 service and distribution locations in more than 20 countries, serving customers across the upstream, midstream, downstream, gas utility, and broader industrial sectors. The transaction is expected to close in the fourth quarter of 2025.
