Schlumberger / Cameron
Schlumberger Ltd. is using Baker Botts and Gibson, Dunn & Crutcher for its pending $14.8 billion acquisition of Cameron International, which turned to Cravath, Swaine & Moore. On Aug. 26, Schlumberger, which is headquartered in Houston, Paris, London and The Hague, and Houston-based Cameron announced a definitive merger agreement for the companies to combine in a cash-and-stock transaction.
The agreement merging the two oil field services companies calls for Cameron shareholders to receive 71.6 percent of a share of Schlumberger common stock and $14.44 in cash for each share of stock they own. The transaction has been approved unanimously by boards of directors of each company, but is subject to customary closing conditions and approval from Cameron shareholders and regulatory agencies. The acquisition is expected to close during the first quarter of 2016.
