Houston real estate, energy, pharma cos. close more than $2B in deals

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Three Houston-based companies closed a merger, an acquisition and an asset deal totaling more than $2 billion last week. Houston’s Patterson-UTI Energy Inc. (Nasdaq: PTEN) closed its nearly $2 billion acquisition of Oklahoma-based Seventy Seven Energy Inc. on April 20. Patterson-UTI issued about 47.5 million shares, and Seventy-seven shareholders are entitled to 1.7851 shares of newly issued Patterson—UTI stock for every share of Seventy-Seven they own. Patterson-UTI also repaid all of Seventy-Seven’s…


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