Halliburton proposes $3.4 billion bid for Expro

U.K. oil services firm Expro International Group said Friday that it's received a 1.71 billion pound ($3.38 billion) preliminary offer from Halliburton Co., trumping an earlier private equity bid.

Expro (UK:EXR: news, chart, profile) said the proposal, which doesn't amount to a firm bid, is worth 1,525 pence a share in cash.

It represents a 6.2% premium to the previously-agreed offer of 1,435 pence a share from a consortium including Candover Partners, Goldman Sachs and AlpInvest Partners.

Halliburton had said shortly after the private equity deal was announced in April that it was in talks with Expro.

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- Posted: 2008-05-23 08:46:39

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