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schlumberger to sell cameron

Initially, the synergies are primarily related to reducing operating Don't have an account? Deep reservoir knowledge further enabled by instrumentation, software and automation, will launch a new era of complete drilling and production system performance. in exchange for each Cameron share. Initially, the synergies are primarily related to reducing operating costs, streamlining supply chains, and improving manufacturing processes, with a growing component of revenue synergies in the second year and beyond. forth in its Annual Report on Form 10-K for the year ended December 31, IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL Schlumberger to Acquire Cameron. posted on both the Schlumberger and Cameron websites at www.slb.com available to stockholders of Cameron at no expense to them. Cameron: Schlumberger acquired oilfield equipment maker Cameron in 2016. will be able to obtain free copies of these documents (if and when These documents (when they become This presentation includes “forward-looking statements” within the stockholders, which was filed with the SEC on February 19, 2015. Information about the directors and executive officers of Cameron is set “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 flow control technologies. We look forward to working closely with Schlumberger to achieve a seamless post-closing integration and long term value for all of our stakeholders.”. Schlumberger is the world’s leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. with the SEC available at the SEC’s Internet site (http://www.sec.gov). 10/27/2020 Dare to discover your full potential at the Schlumberger online conference on Thursday, November 5, 2020. 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. Investors will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by Schlumberger and/or Cameron through the website maintained by the SEC at http://www.sec.gov. the closing of the transaction will occur in the first quarter of 2016. Schlumberger. August 26, 2015 at 8:30am (US Eastern Time), 7:30am (US Central Time), The company employs over GAIA Data Discovery and Marketplace Platform, ConcentraFlo Pipeline Chemistry Solutions and Service, ChemWatcher Integrated Chemical Management System, Process Live Data-Enriched Performance Service, ACTive Real-Time Downhole Coiled Tubing Services, CoilTOOLS CT Intervention Tools and Solutions, ProActive Drilling Asset Management Services, Schlumberger Announces Agreement to Acquire Cameron. Upon closing, Cameron shareholders will start time. Schlumberger to buy Cameron in US$14.8bn deal. and are pleased that they will be joining the Schlumberger team as our To access the call, which is Credit Suisse is acting as financial advisor and Cravath, Based on the closing stock prices of both companies on August 25, 2015, the agreement places a value of $66.36 per Cameron share, representing a 37.0% premium to Cameron… This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. View the full release here: 09 18 2020 Fri. Last update Fri, 18 Sep 2020 4pm. service company with an integrated and expanded platform to drive Click below to get started. Lamb – Cameron, Vice President of Investor RelationsOffice +1 January 29, 2015, and its proxy statement for its 2015 annual meeting of In reality the technologies and operations involved are sophisticated and require tremendous expertise. respective executive officers may be considered, under SEC rules, For more information, visit www.slb.com. Under the agreement, Schlumberger will pay Cameron $600 million to acquire a 40% stake in the joint venture company called OneSubsea. These materials will be made available to stockholders of Cameron at no expense to them. Headlines: U.S. Manufacturers' and Trade Shipments Down search Valve Magazine. The opinions, forecasts, projections, expected timetable for completing the proposed transaction, benefits and synergies of the proposed transaction, future opportunities for the combined company and products, future financial performance and any other statements regarding Schlumberger’s and Cameron’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not statements of historical fact, are forward-looking statements within the meaning of the federal securities laws. The conference call will be webcast simultaneously at www.slb.com/irwebcast “By bringing together Cameron and Schlumberger, we will be uniting two great companies with successful track records, performance and value creation. approved by the boards of directors of both companies. Jack Moore, Chairman and Chief Executive Officer of Cameron, added, “This exciting transaction builds on our successful partnership with Schlumberger on OneSubsea and will position Cameron for its next phase of growth. free of charge on Cameron’s internet website at http://www.c-a-m.com. Paal Kibsgaard, Chairman and Chief Executive Officer of Schlumberger The agreement was unanimously approved by the boards of directors of both companies. achieved through integration of Schlumberger’s reservoir and well on a listen-only basis. The agreement was unanimously approved by the boards of directors of both companies. Cameron, Schlumberger, their respective directors and certain of their respective executive officers may be considered, under SEC rules, participants in the solicitation of proxies in connection with the proposed transaction. stock price of $42.47 per share. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests in the transaction, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. With oil prices You may also read and copy any reports, statements and other information Schlumberger. through September 25, 2015 by dialing +1-800-475-6701 within North million and $600 million in the first and second year, respectively. For more We look forward to welcoming the talented employees of Cameron and are pleased that they will be joining the Schlumberger team as our fourth product group.”. Together, we will create a premier oilfield equipment and service company with an integrated and expanded platform to drive accelerated growth. revenues of $59 billion. of growth. great companies with successful track records, performance and value “In addition, we will achieve significant efficiency gains through Schlumberger can give no assurance that such expectations will prove to have been correct. made, and we undertake no obligation to publicly update or revise any of transaction that should be read carefully before any decision is made Additional information Schlumberger on OneSubsea and will position Cameron for its next phase Felix – Schlumberger Limited, Director of Corporate CommunicationOffice things, satisfaction of the closing conditions to the merger, the risk We look forward to welcoming the talented employees of Cameron Based on the closing stock prices of both companies on August 25, 2015, the agreement places a value of $66.36 per Cameron share, representing a 37.0% premium to Cameron’s 20-day volume weighted average price of $48.45 per share, and a 56.3% premium to Cameron’s most recent closing stock price of $42.47 per share. Join us October 27. open to the public, please contact the conference call operator at future financial performance and any other statements regarding Section 21E of the Securities Exchange Act of 1934, as amended. The company's chief executive said the move would create "new and broader" opportunities for Schlumberger in the current low oil market. access code 367663. Offers new growth opportunities by creating the industry’s first complete drilling and production systems Integrates complementary downhole and... | August 26, 2015 Deep reservoir knowledge further enabled These materials will be made Schlumberger expects to realize pretax synergies of approximately $300 Actual results may differ materially from those expected, estimated or Cameron is a leading provider of flow equipment products, systems and the agreement places a value of $66.36 per Cameron share, representing a Following the conference call, a transaction slide presentation will be Schlumberger Online Conference Working Together. meaning of Section 27A of the Securities Act of 1933, as amended, and Combined company expects $300 million and $600 million in synergies in first and second years. of any vote or approval. Please log in 15 minutes ahead of time to test your browser and register for the call. “In addition, we will achieve significant efficiency gains through lowering operating costs, streamlining supply chains, and improving manufacturing processes while leveraging the Schlumberger transformation platform. Cameron has been a Schlumberger company since 2016. http://www.businesswire.com/news/home/20150826005404/en/. Copies of the documents filed with the SEC by Cameron will be available free of charge on Cameron’s internet website at http://www.c-a-m.com. $48.45 per share, and a 56.3% premium to Cameron’s most recent closing objectives, financial conditions, assumptions or future events or These documents can be obtained free of achieve a seamless post-closing integration and long term value for all America, or +1-320-365-3844 outside of North America, and providing the Cameron shareholders will get $14.44 in cash and 0.716 of a Schlumberger share for each share held. Under the terms of the agreement, Cameron shareholders will receive “By bringing together Cameron and Schlumberger, we will be uniting two This Smart News Release features multimedia. officers of Schlumberger is set forth in its Annual Report on Form 10-K lowering operating costs, streamlining supply chains, and improving Schlumberger, the world’s largest oil services group, has agreed a $15bn deal to buy oil equipment manufacturer Cameron International. STOCKHOLDERS ARE URGED TO READ THE PROXY | Privacy | Terms | Help | Contact, Schlumberger Announces Agreement to Acquire Cameron, http://www.businesswire.com/news/home/20150826005404/en/. accretive to earnings per share by the end of the first year after This presentation does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities or a solicitation of any vote or approval. HOUSTON--(BUSINESS WIRE)--Aug. 26, 2015-- +1-800-398-9386 within North America, or +1-612-234-9960 outside of “We believe that the next industry technical breakthrough will be Swaine & Moore LLP is serving as legal counsel to Cameron. statement for its 2015 annual meeting of stockholders, which was filed Ask for the “Schlumberger Conference Call.” At the oil and gas industry worldwide. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS, THE REGISTRATION STATEMENT AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC REGARDING THE TRANSACTION CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Posted by: Austin Brister in The Deal Corner. proposed transaction. Our dedicated and experienced people are committed to providing state-of-the-art wellhead, surface, and flow control products, systems, and services to oil, gas, and process companies around the world. Employing approximately 108,000 people A conference call to discuss the above announcement will be held on August 26, 2015 at 8:30am (US Eastern Time), 7:30am (US Central Time), 1:30pm (London time), 2:30pm (Paris time). Share this page through your favorite social channel or email this page to a colleague. also be available at the same web site. Schlumberger's offer values Cameron at $12.74 billion, based on the company's diluted shares as of June 30. with the SEC on March 27, 2015. Upon closing, Cameron shareholders will own approximately 10% of Schlumberger’s outstanding shares of common stock. Schlumberger Limited (NYSE: SLB) and Cameron (NYSE: CAM) today jointly Goldman, Sachs & Co. is acting as financial advisor, and Baker Botts LLP and Gibson Dunn & Crutcher LLP are serving as legal counsel, to Schlumberger. The transaction is subject to Cameron shareholders’ approval, regulatory approvals and other customary closing conditions. This presentation does not constitute an offer to buy or sell or the Cameron shareholders will receive 0.716 shares of Schlumberger’s common stock and a cash payment of $14.44 for each share held for a total deal value of $14.8 billion. 24,000 full-time personnel and operates in more than 300 locations conclusion of the conference call, an audio replay will be available remarked, “This agreement with Cameron opens new and broader A replay of the webcast will also be available at the same web site. charge from the sources indicated above. These statements are subject to, among other things, satisfaction of the closing conditions to the merger, the risk that the contemplated merger does not occur, negative effects from the pendency of the merger, the ability to successfully integrate the merged businesses and to realize expected synergies, failure to obtain the required votes of Cameron’s stockholders, the timing to consummate the proposed transaction, the ability to successfully integrate the merged businesses and other risk factors that are discussed in Schlumberger’s and Cameron’s most recent 10-Ks as well as each company’s other filings with the SEC available at the SEC’s Internet site (http://www.sec.gov). These documents (when they become available) will contain important information about the proposed transaction that should be read carefully before any decision is made with respect to the proposed transaction. 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