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Petroleum

Regional Businesses Thrive in Texas with Mergers, Deals, and Expansions

Strategic Insights

— 2 min read

Major companies across various sectors in Texas have recently announced significant mergers, deals, and expansions, showcasing the region's thriving business climate. Aronex Pharmaceuticals received substantial payments from Abbott Laboratories, while companies like Metamor Worldwide, Nabors Industries, and Administaff Inc. have made headlines with their respective partnerships and acquisitions. Additionally, regional businesses like Zydeco Energy and Hoover's Online are expanding their services and offerings to cater to growing markets.

Key Takeaways:

  • Aronex Pharmaceuticals received two payments totaling $5.6 million from Abbott Laboratories, resulting from the completion of patient enrollment and treatment in the Phase III comparative multi-center trials of NYOTRAN against amphotericin B in patients with presumed fungal infections.
  • Metamor Worldwide, Inc. and SPR, Inc. merged to form a global information technology and services company, creating a massive entity with 8,200 consultants in 73 offices and 21 development centers, expected to generate 1999 revenues of more than $1.25 billion.
  • Nabors Industries, Inc. and Pool Energy Services Co. merged in a tax-free, stock-for-stock transaction, combining the companies' operations worldwide and solidifying their positions in the global energy industry.
  • Administaff, Inc. was named to the Forbes Platinum 400 list, highlighting its growth and profitability in the professional employer organization market.
  • Hoover's Online, a leading provider of business information, partnered with Bruce Judson to offer his Grow Your Profits newsletter, providing businesses with internet-based tools and resources.
  • American Eagle launched non-stop regional jet service between Knoxville and Dallas on March 29, providing Knoxville travelers with direct access to American Airlines' hub and its extensive global network.

Statistics:

  • $5.6 million: The total value of two payments received by Aronex Pharmaceuticals from Abbott Laboratories.
  • 8,200: The number of consultants in the combined entity formed by Metamor Worldwide, Inc. and SPR, Inc.
  • 73: The number of offices and 21 development centers in the global information technology and services company.
  • $1.25 billion: The 1999 revenues expected by the combined company formed by Metamor Worldwide, Inc. and SPR, Inc.
  • 1,025: The shares of Nabors common stock received by each share of Pool Energy Services Co. in the merged entity.
  • $16.46 per share: The value of each share of Pool Energy Services Co. in the transaction.
  • $518 million: The total value of the Nabors-Pool merger transaction.
  • $279 million: The combined operating income of Nabors Industries, Inc. and Pool Energy Services Co. for the 12 months ending September 30.
  • $144 million: The assumed net debt in the Nabors-Pool merger transaction.
  • $16.06: The closing stock price of Nabors on January 8.

Sources:

  • COMTEX, "Aronex Pharmaceuticals Receives Payments from Abbott Laboratories" (no date specified)
  • COMTEX, "Metamor Worldwide, Inc. and SPR, Inc. Announce Merger" (no date specified)
  • COMTEX, "Nabors Industries, Inc. and Pool Energy Services Co. Announce Merger" (no date specified)
  • COMTEX, "Administaff, Inc. Named to Forbes Platinum 400 List" (no date specified)
  • COMTEX, "Hoover's Online Partners with Bruce Judson for Newsletter" (no date specified)
  • COMTEX, "American Eagle Launches Non-Stop Regional Jet Service" (no date specified)

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