Tag Archives: NOV Spinoff Distribution Business

National Oilwell Varco Sets Now Inc Spinoff For End Of May

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National Oilwell Varco’s (NOV) board of directors recently approved the spinoff of its distribution business, Now Inc, and the spinoff will take place on May 30th to shareholders of record on May 22nd. The new company will trade on the NYSE under the ticker ‘DNOW’ and NOV shareholders will receive 1 share of DNOW for every 4 NOV shares… Read More »

National Oilwell Varco Details Post-Spin Succession Plan

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National Oilwell Varco (NOV) recently announced plans to spin off its distribution business to shareholders sometime in the first half of next year. Its MRO business won’t be the only thing leaving the company though, as current Chairman and CEO Merill ‘Pete’ Miller will be stepping down from his post and joining the new company as Executive Chairman.… Read More »