Green Touch Builders | Major Houston energy merger takes big hit amid slumped oil
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February 9, 2015 By SEO Admin

Major Houston energy merger takes big hit amid slumped oil

Houston-based C&J Energy Services Inc. (NYSE: CJES) $2 billion merger with Nabors Industries Ltd. (NYSE: NBR) has undergone some big changes.

C&J Energy announced that the cash portion of its merger with Nabors’ production and completion businesses will drop from $938 million to $688 million and that the debt incurred to fund the cash consideration will also be proportionally reduced.

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The deal is expected to close in March pending stockholder…