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Helmerich & Payne (HP) just unveiled an announcement.
Helmerich & Payne, Inc. has entered into an agreement to acquire KCA Deutag for approximately $946.4 million, subject to customary adjustments. The deal, expected to close by the end of 2024, is contingent upon antitrust approvals and other conditions. Helmerich & Payne plans to finance the acquisition through cash, debt, and a bridge loan from Morgan Stanley Senior Funding, Inc. if necessary. The acquisition was announced via a press release and further discussed in a conference call, with details provided in an investor presentation.
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