POSTED: Tuesday, September 25, 2012 - 11:00am
UPDATED: Tuesday, September 25, 2012 - 11:14am
Lufkin ,Tx — Home-grown oil well pump manufacturer Lufkin Industries Inc, is “shaping up to be a deal target” for potential buyers, a report published Monday on the business website Bloomberg.com claims.
The Bloomberg report, citing Citigroup Inc. and Gabelli & Co., stated that the $1.97 billion Lufkin company could attract bids from Houston-based oil-services firms such as Schlumberger Ltd., Halliburton Co. and Baker Hughes Inc., as new drilling techniques spark a boom in shale-oil production.
Read more  from the Lufkin Daily News.