Hanover, Universal Compression Holdings merger expected to close in third quarter

By Devika Patel

Knoxville, Tenn., July 5 - Hanover Compressor Co. and Universal Compression Holdings, Inc. announced that their proposed merger is expected to close in the third quarter.

Each company has now received notice that the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has been terminated.

The proposed merger, announced on Feb. 5, provides for each common share of Hanover to be converted into 0.325 shares of common stock of a newly created holding company called Exterran Holdings, Inc. and each common share of Universal to be converted into one share of common stock of Exterran.

A registration statement of Exterran Holdings has been filed with the SEC.

Houston-based Hanover provides services for the oil and natural gas industry. Universal Compression Holdings, also headquartered in Houston, is a natural gas compression services company.

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