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Wednesday, January 23, 2013

BRIEF-Pamplona Capital buys 8.8 percent of Nabors - filing, (NYSE: NBR)

Nabors Industries Ltd : * Pamplona capital management purchases 8.8 percent in Nabors Industries Ltd filing * Pamplona says has become increasingly concerned about Nabors underperformance- filing * Pamplona says intends to have further discussions with management,shareholders, other parties related to Nabors strategy- filing * Pamplona says has had constructive discussions with Nabors management -filing

Nabors Industries Ltd. (Nabors) is a land drilling contractor. Shares of NBR traded higher by 4.23% or $0.67/share to $16.50. In the past year, the shares have traded as low as $12.40 and as high as $22.73. On average, 4332200 shares of NBR exchange hands on a given day and today's volume is recorded at 12410760.