Nabors Industries Inc., the largest land drilling contractor in the world, completes the acquisitions of all shares of Enserco Energy Service Company Inc. on April 26, 2002. Enserco shareholders could elect to receive for each Enserco share, cash in the amount of $15.6529, exhchangeable shares of a Canadian subsidiary of Nabors or a combination of cash and exchange shares. The value of the acquisition, together with assumed debt, was approximately $480,000,000. Nabors was represented by Katherine Ellis, Nabors’ general counsel, with Chris Nixon, Leland Corbett, Alyson Goldman Keith Chatwin and Dean Nurns (corporate and securities), Davis Weekes (tax) and Susan Hutton, Randall Hofley and Adam Kalbfeisch (regulatory), all of Stikeman Elliot. Michael Rogan and Jeremy London (corporate and securities) and Sean Shimamoto (tax) of Skadden, Arps, Slate, Meagher & Flom LLP advised Nabors with respect to matters of U.S. law. Enserco was represented in Canada by Pat Finnery, Ross Bently, Nicole Andersen and Monica Sharma (corporate and securities), Ronald Mar (tax) and David tupper (litigation), and Edmund Gill (regulatory), all of Blake, Cassels and Graydon LLP. Edwin Maynard (corporate and securities) and David Sicular (tax) of Paul, Weiss, Rifkind, Wharton & Garrison advised Enserco with respect to matters of U.S. law.
