HSR Waiting Period Terminates Clearing MRC Global Inc. To Proceed
With Pending Acquisition Of Production Specialty Services
HOUSTON, Dec. 12, 2012 /PRNewswire/ -- MRC Global
Inc. (NYSE:MRC) announced today that the waiting period under the
Hart-Scott-Rodino Anti-Trust Improvements Act of 1976 was
terminated early in connection with MRC's previously announced
pending acquisition of Production Specialty Services, Inc.
Closing of the acquisition remains subject to other customary
closing conditions and is expected to occur before year-end
2012.
About MRC Global Inc.
Headquartered in Houston,
Texas, MRC, a Fortune 500 company, is the largest global
distributor of pipe, valve, and fittings (PVF) and related products
and services to the energy industry, based on sales, and supplies
these products and services across each of the upstream, midstream
and downstream sectors. More information about MRC can be
found at www.mrcglobal.com.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act and Section 21E of the
Exchange Act. Words such as "expected" and similar expressions are
intended to identify forward-looking statements. The company's
expectation of the closing its planned acquisition of Production
Specialty Services Inc. is only the company's expectation regarding
this matter. Whether MRC is actually successful in closing its
acquisition of Production Specialty Services is dependent on a
number of factors, including (among others) the fulfillment or
waiver of customary conditions to closing of acquisitions of
similar companies. There can be no guarantee that these
conditions will be met or waived or met or waived by the company's
expected closing date.
Undue reliance should not be placed on the company's
forward-looking statements. Although forward-looking statements
reflect the company's good faith beliefs, reliance should not be
placed on forward-looking statements because they involve known and
unknown risks, uncertainties and other factors, which may cause the
company's actual results, performance or achievements or future
events to differ materially from anticipated future results,
performance or achievements or future events expressed or implied
by such forward-looking statements. The company undertakes no
obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events,
changed circumstances or otherwise, except to the extent required
by law.
Contacts:
James E. Braun, EVP & Chief
Financial Officer
MRC Global Inc.
Jim.Braun@mrcpvf.com
832-308-2845
Ken Dennard, Managing Partner
DRG&L
ksdennard@drg-l.com
713-529-6600
SOURCE MRC Global Inc.