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    Hydralift and National Oilwell announce merger

    News // October 25, 2002
    Hydralift ASA has announced the signing of a definitive merger agreement with National-Oilwell to create a new global supplier of systems and components used in offshore oil and gas drilling and production, as well as offshore cranes and floating production equipment.

    Under the terms of the agreement, which has been approved by both companies' boards of directors, National Oilwell will make a cash Tender Offer to acquire all of the outstanding shares of Hydralift. National Oilwell will offer NOK 55.00 for each shareof Hydralift, which had an October 10, 2002 closing price on the Oslo Stock Exchange of NOK 34.50.

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