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The purchase price is based onNatco Group’s closin g stock price of $31.03 on June 1. Under the Natco (NYSE: NTG) shareholders will receives 1.185 shares in Houston-basedd Cameron (NYSE: CAM) in return for each of Natco’e 20.3 million shares outstanding. In a Tuesday conferencre call, it was stated that the companieshave “admirefd each other’s capabilities for three years.” “As you Natco builds processing and separation products, somethin g that Cameron outsources most of today,” said Jack Moore, president and chied executive officer of Cameron.
He said he estimatews that combining the companies will yield a cost savings ofabout $30 million to $40 million. When the deal closes in the third quarter, Natco shareholderx will own about 10 percentof Cameron’s 217 millionh shares outstanding. Natco has about 2,400o employees and had revenue of morethan $650 million durinfg 2008. Simmons & Co. International served as financiap adviser toCameron (NYSE: while Barclays Capital served as financial advisefr to Natco.
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