Halliburton takes over Numar Corporation

Jul 14, 1997 02:00 AM

June 14, 1997 The Halliburton Company has signed an agreement to acquire the Numar Corporation in a transaction worth $ 360 million. The proposed merger has received unanimous approval from the boards of both companies, although it is still subject to approval of Numar's stockholders.
Numar designs, manufactures and markets a patented proprietary well-logging device, magnetic resonance imaging logging, to evaluate sub-surface rock formations in newly drilled oil and gas wells. Over the last two years, Halliburton, one of the world's largest diversified energy, engineering, maintenance, and construction companies, has been a licensee of Numar. Numar will operate as a wholly owned subsidiary of Halliburton and part of Halliburton's energy services business segment.

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