MRC Global Shares Rise Premarket on Takeover by DNOW

Dow Jones

Jun 27

By Colin Kellaher

Shares of MRC Global rose sharply in premarket trading Friday after the distributor of pipe, valves and fittings agreed to be acquired by DNOW in a stock swap.

After the closing bell Thursday, DNOW, a supplier of energy and industrial products, said it would issue 0.9489 shares for each share of MRC.

Based on DNOW's Thursday's closing price of $15.06, the deal values MRC at about $14.29 a share, a roughly 7.3% premium.

MRC shares were recently up nearly 14% to $15.13 in premarket trading.

The Houston companies said they expect to complete the deal by the end of the year.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

June 27, 2025 06:01 ET (10:01 GMT)

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