Archrock Declares Expiration Of Waiting Period For Acquisition Of Total Operations

(RTTNews) - Archrock, Inc. (AROC), a provider of natural gas compression and aftermarket services, on Tuesday announced the expiration of the waiting period in connection with its pending acquisition of Total Operations and Production Services, LLC. or TOPS.

"The expiration of the waiting period under the HSR Act satisfies an important condition necessary for the completion of the transaction," the company said.

The transaction, to be closed in the third quarter, is anticipated to be immediately accretive to Archrock's earnings per share and cash available for dividend per share.

In July, Archrock had announced a deal to buy TOPS, including around 580,000 horsepower of predominantly young electric motor drive compression assets, in a cash and share deal of $983 million