Norton Rose Fulbright, Milbank Land Roles in $220M Tesco Deal
Partners in Houston and Calgary lead Norton Rose Fulbright's deal team for Tesco Corp., which has agreed to be acquired by Nabors Industries.
August 17, 2017 at 04:00 PM
18 minute read
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.
Courtesy photo
Houston corporate, M&A and securities partner Brian Fenske and Calgary securities partner Jamie Gagner jointly lead the Norton Rose team for Tesco. Fenske said coordination was not an issue, despite teams in Houston and Calgary and two different time zones.
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