Team, Inc. (NYSE: TISI) ("Team") and Furmanite Corporation (NYSE: FRM) ("Furmanite") today announced that the Boards of Directors of both companies have unanimously approved a definitive merger agreement under which Team will acquire all of the outstanding shares of Furmanite in a stock-for-stock transaction valued at approximately $335 million, including the assumption of debt, which is intended to be tax-free to Furmanite stockholders for U.S. federal income tax purposes.
Baker Botts represented Lazard Frères & Co. as financial advisor to Furmanite in the transaction.
Baker Botts Lawyers/Office Involved: Josh Davidson
(Partner, Houston); Laura Katherine Mann
For more information, please see Team's news release by clicking here