Deals
Schlumberger to Buy Cameron in $14.8 Billion Oil Services Deal
- Acquisition seen creating one-stop shop for oil drillers
- Deal not expected to be delayed by U.S. antitrust hurdles
Schlumberger to Purchase Cameron in $14.8B Deal
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Schlumberger Ltd. agreed to buy Cameron International Corp. in a deal valued at $14.8 billion, allowing the world’s largest oilfield contractor to bundle gear and services more effectively into one package.
Cameron stockholders will receive 0.716 Schlumberger shares and a cash payment of $14.44 in exchange for each Cameron share, according to a regulatory statement on Wednesday. The deal valued Cameron at $66.36 a share, a 56 percent premium based on both companies’ closing share prices on Tuesday before the deal was announced.