A cross-border team at Norton Rose Fulbright represents Tesco Corp. in its pending acquisition by Nabors Industries in a stock-for-stock transaction valued at $220 million. Nabors, which has its corporate headquarters in Houston, turned to longtime outside counsel Milbank, Tweed, Hadley & McCloy, and, as Canadian counsel, Stikeman Elliott.
Nabors announced Aug. 14 that it reached a deal to acquire all issued and outstanding common stock of Tesco, which provides technology for upstream energy companies. Nabors owns and operates drilling rigs. Once the transaction closes, Tesco shareholders will own about 10 percent of the outstanding shares of Nabors.
