DNOW Inc. (DNOW) has completed its acquisition of MRC Global Inc. (MRC Global), forming a leading solutions provider for the energy and industrial markets.
Under the terms of the merger, each share of MRC Global common stock was converted into the right to receive 0.9489 shares of DNOW common stock. Following the transaction, MRC Global is no longer listed on the New York Stock Exchange and has ceased reporting obligations under the Securities Exchange Act of 1934, as amended.
The combined company is expected to deliver significant strategic, operational, and financial benefits to shareholders, including:
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Expanded growth opportunities: Serving a broader mix of customers in construction and maintenance of critical energy infrastructure, including chemical processing, municipal water, utilities, mining, and power generation.
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Broader geographic footprint: Approximately 5,000 employees across more than 350 service and distribution locations in over 20 countries, including the U.S., Canada, and international markets.
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Strong cash flow and investment capacity: Enabling organic growth, productivity-enhancing technologies, strategic acquisitions, capital returns to shareholders, and debt reduction toward a net cash position.
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Operational efficiencies: Expected annual cost synergies of USD 70 million within three years, through streamlined public company costs, corporate and IT systems, and supply chain improvements.
This combination positions DNOW as a premier global solutions provider, enhancing its ability to serve customers while generating value for shareholders.