MRC Global Shares Rise Premarket on Takeover by DNOW

Dow Jones
06/27
 

By Colin Kellaher

 

Shares of MRC Global rose sharply in premarket trading Friday after the distributor of pipe, valves and fittings agreed to be acquired by DNOW in a stock swap.

After the closing bell Thursday, DNOW, a supplier of energy and industrial products, said it would issue 0.9489 shares for each share of MRC.

Based on DNOW's Thursday's closing price of $15.06, the deal values MRC at about $14.29 a share, a roughly 7.3% premium.

MRC shares were recently up nearly 14% to $15.13 in premarket trading.

The Houston companies said they expect to complete the deal by the end of the year.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

June 27, 2025 06:01 ET (10:01 GMT)

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