NCSM NCS Multistage Holdings, Inc.
Price Chart
Executive Summary
Weatherford International plc has entered into a definitive agreement to acquire NCS Multistage Holdings in an all-stock (with up to 19.99% cash election) transaction valued at 0.463 Weatherford shares per NCSM share. The deal has been approved by both boards and the controlling stockholder owning >50% of NCSM shares, with expected close in H2 2026 and at least $15M in annual cost synergies. This filing confirms the acquisition is on track with no changes to terms and no regulatory or shareholder opposition disclosed.
Actionable Insight
The deal is fully approved by the controlling stockholder and boards, significantly reducing execution risk. Traders should monitor regulatory clearance and the S-4 filing for detailed exchange ratio and voting mechanics. The stock may trade toward the implied deal value as close approaches.
Key Facts
- Definitive agreement: Weatherford acquires NCS Multistage for 0.463 Weatherford shares per NCSM share (blended), with up to 19.99% payable in cash.
- Stockholders can elect either 0.554 Weatherford shares or a mix of 0.239 shares plus cash equal to 0.137 shares, subject to proration.
- Annual cost synergies expected to be at least $15 million, realized within 18 months of closing.
- Deal expected to be immediately accretive to adjusted Free Cash Flow per share.
- Approved by Weatherford Board, NCS Multistage Board, and controlling stockholder owning >50% of NCSM shares.
- Expected to close in second half of 2026, subject to regulatory approvals and customary conditions.
- Piper Sandler serving as financial advisor to NCS Multistage; King & Spalding and Baker Botts as legal counsel.
Financial Impact
Acquisition valued at 0.463 Weatherford shares per NCSM share (blended); at least $15M annual cost synergies expected; deal immediately accretive to adjusted FCF per share.
Risk Factors
- Regulatory approval delays or conditions could push close beyond H2 2026.
- Integration risks may delay realization of $15M+ cost synergies.
- Weatherford stock price fluctuations affect the implied deal value for NCSM shareholders.
- Any material adverse change or termination rights could scuttle the transaction.
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001193125-26-249808 |
| Document: 0001193125-26-249808-index-headers.html | 0001193125-26-249808 |
| Document: 0001193125-26-249808-index.html | 0001193125-26-249808 |
| Document: 0001193125-26-249808.txt | 0001193125-26-249808 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 1, 2026
13d ago
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425
| $55.60 $55.72 | ▲ +0.22% | ▲ +0.94% | $54.33 (−2.28%) |
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Jun 1, 2026
13d ago
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425
| $55.60 $55.72 | ▲ +0.22% | ▲ +0.94% | $54.33 (−2.28%) |
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Jun 1, 2026
13d ago
|
425
| $55.60 $55.72 | ▲ +0.22% | ▲ +0.94% | $54.33 (−2.28%) |
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Jun 1, 2026
13d ago
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425
| $46.51 $55.60 | ▲ +19.54% | ▲ +19.40% | $54.33 (+16.81%) |
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Jun 1, 2026
13d ago
|
425
| $46.51 $55.60 | ▲ +19.54% | ▲ +19.40% | $54.33 (+16.81%) |
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Jun 1, 2026
13d ago
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425
| $46.51 $55.60 | ▲ +19.54% | ▲ +19.40% | $54.33 (+16.81%) |
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Apr 29, 2026
6w ago
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8-K
| $54.67 $49.56 | ▲ +9.35% | ▲ +9.57% | $54.33 (+0.62%) |
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Apr 23, 2026
7w ago
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Press Release
| $78.77 $78.24 | ▼ −0.67% | ▼ −0.84% | $54.33 (−31.03%) |
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Apr 2, 2026
10w ago
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DEFA14A
| $60.65 $63.39 | ▲ +4.52% | ▲ +4.04% | $54.33 (−10.42%) |
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Mar 4, 2026
14w ago
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8-K
| $44.44 $48.35 | ▲ +8.80% | ▲ +10.11% | $54.33 (+22.25%) |
US Market Status
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