DNOW Inc to Acquire Whitco Supply, LLC for Terms Unidsclosed
Portfolio Pulse from Benzinga Newsdesk
DNOW Inc. has announced an agreement to acquire Whitco Supply, LLC in an all-cash transaction. The acquisition is subject to regulatory approvals and customary closing conditions. Whitco Supply, founded in 2003, serves the midstream market and broader energy sectors, with around 230 employees across eight locations in the US.
February 06, 2024 | 11:48 am
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DNOW Inc. is acquiring Whitco Supply, aiming to expand its presence in the energy sector. The deal is expected to enhance DNOW's product offerings and market reach.
The acquisition of Whitco Supply by DNOW Inc. is likely to have a positive short-term impact on DNOW's stock price. This move signals DNOW's commitment to expanding its market reach and product offerings in the energy sector, which could be viewed favorably by investors. However, the final impact will depend on the completion of the deal and the integration of Whitco Supply into DNOW's operations.
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