Business
DNOW and MRC Global to Combine in All-Stock Transaction Creating a Premier Energy and Industrial Solutions Provider
HOUSTON, June 26, 2025--DNOW Inc. (NYSE: DNOW) ("DNOW" or "the Company") and MRC Global Inc. (NYSE: MRC) ("MRC Global") today announced that they have entered into a definitive merger agreement pursuant to which DNOW will acquire MRC Global in an all-stock transaction valued at approximately $1.5 billion, inclusive of MRC Global’s net debt, creating a premier energy and industrial solutions provider.
About this update from Dnow Inc.
[{"type":"text","content":"Combination Greatly Expands the Scale and Scope of Complementary Products, Services and Supply Chain Solutions","length":110,"tagName":"p","attribs":{}},{"type":"text","content":"Diversified Business Portfolio Serving Attractive Global Markets to Drive Long-Term Sustainable Growth","length":102,"tagName":"p","attribs":{}},{"type":"text","content":"Expected to Realize $70 Million of Annual Cost Synergies Within Three Years of Closing","length":86,"tagName":"p","attribs":{}},{"type":"text","content":"Anticipated to be Meaningfully Accretive to Adjusted Earnings Per Share (EPS) in First Year Following Closing","length":109,"tagName":"p","attribs":{}},{"type":"text","content":"Companies to Host Investor Conference Call Today at 5:15 p.m. ET / 4:15 p.m. CT","length":79,"tagName":"p","attribs":{}},{"type":"text","content":"HOUSTON, June 26, 2025--(BUSINESS WIRE)--DNOW Inc. (NYSE: DNOW) ("DNOW" or "the Company") and MRC Global Inc. (NYSE: MRC) ("MRC Global") today announced that they have entered into a definitive merger agreement pursuant to which DNOW will acquire MRC Global in an all-stock transaction valued at approximately $1.5 billion, inclusive of MRC Global’s net debt, creating a premier energy and industrial solutions provider.","length":450,"tagName":"p"},{"type":"text","content":"The combination brings together two global energy and industrial infrastructure organizations with a complementary portfolio of high-quality products, services and supply chain solutions and an expanded footprint of more than 350 service and distribution locations across more than 20 countries. By integrating both companies’ expertise in serving energy, gas utility and industrial customers, the combined company will have greater scale and deliver enhanced capabilities across the value chain.","length":496,"tagName":"p"},{"type":"text","content":"Under the terms of the agreement, MRC Global shareholders will receive 0.9489 shares of DNOW common stock for each share of MRC Global common stock, representing a 8.5% premium to MRC Global’s 30-day volume weighted average price ("VWAP") of $12.77 as of June 25, 2025. The exchange ratio, together with the closing prices of DNOW and MRC Global on June 25, 2025, results in a combined company enterprise value of approximately $3.0 billion. Upon completion of the transact...