Inquiries to delay Robbins & Myers sale

US and Canadian antitrust inquiries to delay sale of Robin & Myers to National Oilwell Varco

Associated Press

HOUSTON (AP) -- Engineered equipment supplier Robbins & Myers Inc. said Friday that antitrust inquiries by Canadian and U.S. officials will push the closing of its sale to National Oilwell Varco into 2013.

National Oilwell Varco Inc. said in August that it would buy Robbins & Myers for $2.55 billion. Both companies are based in Houston and do business around the world in the oil and gas industry.

Robbins & Myers said that both it and National Oilwell Varco received requests for further information from the Canadian Competition Bureau. That could extend the waiting period to as much as 30 days after both companies have responded and push the deal's closing into next year.

The companies also said they are in discussions with the U.S. Department of Justice to allow the department additional time to complete its review of the deal under U.S. antitrust rules. That review period will also extend past the end of 2012.

Robbins & Myers has scheduled its special meeting of shareholders on Dec. 27 to consider approval of the deal.

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