Milbank, led by Global Corporate partner Charles J. Conroy, represented Nabors Industries Ltd. (NYSE: NBR) in its acquisition of Superior Well Services, Inc. (NASDAQ: SWSI). The transaction contemplates that Nabors will commence a tender offer for all outstanding shares of Superior common stock at a price of $22.12 per share in cash in accordance with the merger agreement. Holders of approximately 34% of Superior's outstanding shares of common stock have entered into agreements agreeing to tender their shares. Nabors expects to commence the tender offer promptly and expects the offer to close by the end of the third quarter. Following completion of the tender offer, Nabors will acquire any remaining shares of Superior through a second-step merger at the same price paid in the tender offer. The transaction is valued at approximately $900 million.
In addition to Mr. Conroy, the Milbank team included Global Corporate partner Roland Hlawaty and associates David Schwartz, George Esposito and Josh Weiss. Superior was represented by Latham & Watkins, LLP.
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading global law firm that for more than 140 years has provided innovative legal solutions to many of the world’s largest, most complex, “first-ever” corporate transactions and litigation. The firm’s transactional expertise includes capital markets, corporate finance and transactions, project finance, acquisition finance, and other major fields of law practice. Milbank litigation teams resolve disputes involving mergers and acquisitions, proxy battles, financings and securities offerings, intellectual property, white-collar crime, and corporate restructurings, among others.
The firm’s clients range from prominent multinational financial, industrial and commercial enterprises to governments, institutions and individuals. The firm is headquartered in New York, with offices in Los Angeles, Washington, DC, London, Frankfurt, Munich, Tokyo, Hong Kong, Singapore, Beijing and São Paulo.
