Schlumberger To Acquire Cameron In Stock And Cash Deal - Quick Facts

(RTTNews) - Schlumberger Limited (SLB) and Cameron (CAM) jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share. The agreement places a value of $66.36 per Cameron share.

Cameron is a leading provider of flow equipment products, systems and services to worldwide oil and gas industries. The company employs over 24,000 full-time personnel and operates in more than 300 locations around the world.

Cameron shareholders will own approximately 10% of Schlumberger's outstanding shares of common stock. The closing of the deal is anticipated to occur in the first quarter of 2016. Schlumberger expects the combination to be accretive to earnings per share by the end of the first year after closing.