Core Laboratories to be Acquired for $1.4B
Ticker: CLB · Form: 8-K · Filed: Oct 23, 2024 · CIK: 1958086
Sentiment: neutral
Topics: acquisition, merger, private-equity
TL;DR
Core Labs is being bought by American Securities for $1.4B, deal expected Q1 2025.
AI Summary
Core Laboratories Inc. announced on October 23, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of American Securities LLC. The transaction is valued at approximately $1.4 billion, including the assumption of net debt. The deal is expected to close in the first quarter of 2025, subject to customary closing conditions.
Why It Matters
This acquisition by American Securities LLC signifies a major change in ownership for Core Laboratories, potentially impacting its strategic direction and operations in the oil and gas field services sector.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, which introduces a level of uncertainty until the deal is finalized.
Key Numbers
- $1.4B — Transaction Value (Total amount Core Laboratories Inc. is being acquired for, including net debt.)
Key Players & Entities
- Core Laboratories Inc. (company) — Company being acquired
- American Securities LLC (company) — Acquiring entity
- $1.4 billion (dollar_amount) — Total transaction value
- first quarter of 2025 (date) — Expected closing period
FAQ
Who is acquiring Core Laboratories Inc.?
An affiliate of American Securities LLC is acquiring Core Laboratories Inc.
What is the total value of the transaction?
The transaction is valued at approximately $1.4 billion, including the assumption of net debt.
When is the acquisition expected to close?
The acquisition is expected to close in the first quarter of 2025.
What conditions must be met for the deal to close?
The deal is subject to customary closing conditions.
What is Core Laboratories Inc.'s state of incorporation?
Core Laboratories Inc. is incorporated in Delaware.
Filing Stats: 545 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-10-23 16:31:36
Key Financial Figures
- $0.01 — ch registered Common Stock (par value $0.01) CLB New York Stock Exchange Indi
Filing Documents
- clb-20241023.htm (8-K) — 49KB
- clb-ex99_1.htm (EX-99.1) — 676KB
- img77179564_0.jpg (GRAPHIC) — 4KB
- 0000950170-24-116676.txt ( ) — 880KB
- clb-20241023.xsd (EX-101.SCH) — 31KB
- clb-20241023_htm.xml (XML) — 4KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On October 23, 2024, Core Laboratories Inc. issued a press release announcing its financial results for the third quarter of 2024.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On October 23, 2024, Core Laboratories Inc. issued a press release announcing a quarterly cash dividend of $0.01 per share of common stock for shareholders of record on November 4, 2024 and payable November 25, 2024. The full text of the press release is set forth in Exhibit 99.1 attached hereto. The information in this Report and the exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly stated by specific reference in such filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 99.1 Press release issued on October 23, 2024 * 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * This exhibit is intended to be furnished and shall not be deemed "filed" for purposes of the Exchange Act.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Core Laboratories Inc. Dated: October 23, 2024 By /s/ Christopher S. Hill Christopher S. Hill Chief Financial Officer