NCS Multistage stockholders must elect merger consideration by Aug. 31 as Weatherford's acquisition heads for a Sept. 1 close, with the controlling stockholder already on board.
Weatherford International plc currently carries an Alpha Score of n/a, giving AlphaScala's model a neutral read on the setup.
Weatherford International and NCS Multistage set an Aug. 31 deadline for NCS stockholders to choose their merger consideration, with the deal expected to close the following day.
Under the terms, NCS stockholders can elect to receive 0.554 Weatherford ordinary shares per share at closing, or a mix of 0.239 shares plus cash equal to 0.137 shares. Holders who do not make a valid election will automatically receive the all-stock option, which is not subject to proration.
The controlling stockholder, which owns more than 50% of NCS outstanding shares, already approved the transaction. The boards of both companies also signed off. Closing is subject to customary conditions, and if it does not happen by Sept. 1, the election deadline could be extended, the companies said in a statement.
Weatherford, a global oilfield services firm, will absorb NCS Multistage, which provides completion products and services for horizontal wells in North America and select international basins. Until the deal closes, both operate independently.
The merger gives Weatherford added scale in well-completion technology, particularly in the Permian and other unconventional plays where NCS has a strong foothold.
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