Schlumberger-Cameron Merger Receives Unconditional Clearance from U.S. Department of Justice
HOUSTON –Â Schlumberger Limited (NYSE: SLB) and Cameron International Corporation (NYSE: CAM) jointly announced today that the U.S. Department of Justice has cleared their proposed merger without any conditions, granting early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the proposed merger.
The closing of the proposed merger remains subject to approval by Cameron stockholders and the satisfaction or waiver of the other closing conditions contained in the merger agreement between Schlumberger and Cameron. As previously announced by Cameron, the special meeting of stockholders of Cameron is scheduled for December 17, 2015, during which stockholders of Cameron will consider and vote upon the proposed adoption of the agreement and plan of merger between the companies.
Subject to receipt of approval from Cameron stockholders and satisfaction or waiver of other closing conditions contained in the merger agreement, Schlumberger and Cameron expect to close the merger in the first quarter of 2016. Until that time, Schlumberger and Cameron will continue to operate as separate and independent companies and continue to serve their respective customers.
About Schlumberger
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. Employing approximately 105,000 people representing over 140 nationalities and working in approximately 85 countries, Schlumberger provides the industry's widest range of products and services from exploration through production.
Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $48.58 billion in 2014. For more information, visit www.slb.com.
About Cameron
Cameron is a leading provider of flow equipment products, systems and services to worldwide oil and gas industries.
SOURCE Cameron
CONTACT: Investors: Simon Farrant - Schlumberger Limited, Vice President of Investor Relations, Joy V. Domingo - Schlumberger Limited, Manager of Investor Relations, Office +1 (713) 375-3535, investor-relations@slb.com, Scott Lamb - Cameron, Vice President of Investor Relations, Office +1 (713) 513-3344, scott.lamb@c-a-m.com; Media: Joao Felix - Schlumberger Limited, Director of Corporate Communication, Office +1 (713) 375-3494, communication@slb.com
Web Site: http://www.c-a-m.com Â
