World’s largest oilfield-services provider, Schlumberger Ltd. agreed to buy Cameron International Corporation for $66.36 a share in a deal valued at $14.8 billion.
When concluded, 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, August 26th.
Information indicates that the deal is expected to gradually add to Schlumberger earnings per share in the first year after closing while they see a combined $900 million in synergies in the first two years, according to the statement. Goldman Sachs Group acted as financial adviser for Schlumberger while Credit Suisse Group AG acted as adviser for Cameron.
This deal comes after the proposed merger between Halliburton, the second-biggest oilfield services provider and Baker Hughes in a deal valued at near $35 billion announced last November. It is also expected to offer new growth opportunities by creating the industry's first complete drilling and production systems
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