Schlumberger acquiring Cameron in $14.8 billion cash and stock deal

Schlumberger, the world’s largest oilfield services company, and fellow services firm Cameron, originator of the oilfield blowout preventer, said Wednesday they’re merging in a $14.8 billion cash and stock deal. Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share. Based on the closing stock prices of both companies on Aug. 25, the deal values Cameron at $66.36 per share – a 37% premium to Cameron s 20-day volume weighted average price of $48.45/share, and a 56.3% premium to Cameron s most recent closing stock price of $42.47/share. Upon closing, Cameron shareholders will own roughly 10% of Schlumberger s outstanding common shares, Kallanish calculates. We believe that the next industry technical breakthrough will be achieved through integration of Schlumberger s reservoir and well technologies with Cameron s leadership in surface, drilling, processing and flo
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