CE Franklin Ltd. (Calgary, Alberta) announced it revised transaction terms downward for the purchase of Houston-based PVF distributor Wilson International from its parent company, Smith International.

Originally, the deal called for CE Franklin to issue shares between $245-250 million (U.S. dollars), or between 66-68 million shares of CE Franklin. Under the revised terms, CE Franklin will issue approximately 54 million common shares to Smith in exchange for the shares of Wilson. The new deal is valued at around $222 million, plus other considerations.