Weatherford International and NCS Multistage Holdings have set Aug. 31 at 6 p.m. Eastern as the deadline for NCS Multistage shareholders to elect the form of consideration in their pending merger.
The transaction remains on track to close on Sept. 1, according to the companies. NCS Multistage shareholders may opt to receive 0.554 of a Weatherford ordinary share at closing. Alternatively, they may choose a combination of 0.239 of a Weatherford share and a cash amount equivalent to 0.137 of a Weatherford share, subject to proration, limitations, and adjustments.
Shareholders who do not make a valid election by the deadline or select the all-stock option will automatically receive the stock consideration without proration or adjustments. The boards of both companies and NCS Multistage’s controlling shareholder—holding over 50% of its outstanding shares—have approved the deal.
Weatherford, a global energy services provider, operates across drilling, well construction, and production in six continents. NCS Multistage specializes in engineered products and support services for oil and natural gas well construction and completion, serving exploration and production firms in North America and select international markets including the North Sea, Middle East, and Argentina. Both companies will continue operating independently until the merger closes.
