BRIEF-Frank's International to acquire Blackhawk Group Holdings for about $150 mln

viernes 7 de octubre de 2016 08:11 GYT

Oct 7 (Reuters) - Frank's International Nv :

* Deal for approximately $150 million of cash on hand and approximately 12.8 million shares of company's common stock

* Says Blackhawk will survive merger as a wholly-owned subsidiary of company

* Bain capital and other stockholders of Blackhawk delivered a written consent adopting merger agreement

* Entered into a definitive merger agreement to acquire blackhawk group holdings, inc.

* Certain investment funds affiliated with Bain Capital Partners Llc currently own about 70% of capital stock of Blackhawk

* If deal closes, co to place some shares comprising equity consideration in escrow as partial security for blackhawk's obligations

* Merger agreement contains caps on certain losses arising under agreement of up to approximately 17% of transaction value Source text ( Further company coverage: