The
world’s leading supplier of technology, integrated project management and
information solutions in the oil and gas industry – Schlumberger (NYSE:SLB) announced the acquisition
of oilfield equipment maker Cameron
International (NYSE:CAM).
The total transaction value is $14.8 billion.
This
raised the shares of the Cameron by 37%, or up
to $ 66.36 per share.
The
transaction will be paid in shares of Schlumberger and cash.
Closing of the transaction is expected in the first quarter of 2016.
The expectations of Schlumberger
are that this merger will bring the company approximately $300 million and $600 million in the first
and second year, respectively.
The
two companies in 2014 had revenues of
$ 59
billion.
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