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Petroleum industry

Standard & Poor's Announces Index Changes

Strategic Insights

— 1 min read

Weatherford International Incorporated is set to acquire Enterra Corp., a company listed in the S&P MidCap 400 Index and S&P SmallCap 600 Index. This will lead to changes in the composition of these indexes. Weatherford Enterra will replace Enterra Corp. in the S&P MidCap 400 Index, while Mosinee Paper Corporation will take Enterra's place in the S&P SmallCap 600 Index.

Key Takeaways:

  • Weatherford International Incorporated will be acquiring Enterra Corp. in a pooling-of-interests transaction.
  • The merger is scheduled to be voted on by shareholders on October 5, 1995.
  • Weatherford Enterra will be a diversified international energy services and manufacturing company based in Houston, Texas.
  • Mosinee Paper Corporation, a manufacturer and marketer of paper and paper products, will replace Enterra in the S&P SmallCap 600 Index.
  • The change in the S&P SmallCap 600 Index will take effect after the close of trading on October 5, 1995.
  • The acquisition and index changes do not reflect an opinion on the investment merits of either company.
  • Weatherford International Incorporated's shares are currently listed in the S&P SmallCap 600 Index, while Enterra Corp. is listed in the S&P MidCap 400 Index and the S&P SmallCap 600 Index.
  • The Equity Services Group of Standard & Poor's has calculated and maintained various stock price indexes, including the S&P 500, S&P MidCap 400, S&P SmallCap 600, and S&P Super Composite 1500.

Statistics:

  • The deal is set to take effect after the close of trading on October 5, 1995.
  • Over $300 billion is indexed to the S&P 500 stock price index.
  • The S&P Equity Services Group calculates and maintains multiple benchmark indexes, including the S&P 500, which is considered a leading indicator of stock market activity and performance.

Sources:

  • "Business Wire" - Standard & Poor's will replace Enterra Corp. in the S&P MidCap 400 Index with Weatherford Enterra Inc. (WII) after the close of trading Thursday, Oct. 5, 1995.
  • "Standard & Poor's Equity Services Group" - provides financial, economic, and investment information to the global financial community.
  • "The McGraw-Hill Companies, Financial Information Services Group" - publishes stock price indexes, including the S&P 500.

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