Company News - National-Oilwell, Varco to merge in $2.5 billion deal

A merger between an oil drilling equipment manufacturer and a manufacturer and supplier of drilling systems and rig instrumentation was the largest transaction among recent oil-related mergers and acquisitions.National-Oilwell Inc. (NOI) and Varco International Inc., both based in Houston, agreed to merge in a $2.5 billion stock deal to create National Oilwell Varco in which NOI shareholders will own 51% interest and Varco shareholders 49%.In other recent upstream company news:Newfield Exploration Co., Houston, agreed to buy privately owned Inland Resources for $465 million, plus $111 million in assumed debt. Closing is expected by early September.Anadarko Petroleum Corp. plans to acquire...

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