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Stock Market & Financial Investment News

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August 25, 2014
17:14 EDTNESNuverra Environmental evaluating revised VeroLube proposal
Nuverra Environmental Solutions provided an update on the status of its previously announced agreement to divest Thermo Fluids. Nuverra has been informed by representatives of VeroLube USA and its financial advisor that VeroLube is proposing a reduction in the purchase price for TFI from the previously agreed total of $175M to a revised total purchase price of $145M. Nuverra was further informed that the proposed revised purchase price of $145M would include a stock component that may be greater than the previously agreed upon $10M. VeroLube has proposed a revised transaction closing date of September 30. VeroLube and its financial advisor informed Nuverra that they have finalized the debt component of their financing strategy, and believe they could finalize the equity component in the next several weeks. Nuverra is currently evaluating the revised VeroLube proposal. The exclusivity period with VeroLube, which prohibits Nuverra from negotiating with other interested parties, ends on August 29.
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September 17, 2014
08:34 EDTNESNuverra Environmental price target lowered to $30 from $41 at Cowen
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