Boots & Coots International Well Control Inc., Houston, (Amex: WEL) plans to acquire the hydraulic workover business of Oil States International Inc., Houston, (NYSE: OIS) for 26.5 million shares of Boots & Coots common stock and senior subordinated promissory notes totaling $15 million. The transaction is expected to close in the first half of 2006. Oil States' hydraulic workover business (HWC) is based in Houma, La., and provides live and dead well workover services throughout the world using a fleet of 29 owned and operated hydraulic workover units.
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