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Schlumberger to Buy Cameron
Posted on 8/26/15 at 8:03 am
Posted on 8/26/15 at 8:03 am
Another merger in the O&G industry
Schlumberger to Buy Cameron
"The price tag values Houston-based Cameron—which makes drilling equipment and supplies maintenance equipment to pipelines, refineries and wells—at $66.36 a share, a 56.3% premium to Tuesday’s closing price. Amid the downturn in the energy sector, Cameron shares had fallen 42% over the past 12 months, but they surged 45% to $61.40 in premarket trading Wednesday."
Schlumberger to Buy Cameron
"The price tag values Houston-based Cameron—which makes drilling equipment and supplies maintenance equipment to pipelines, refineries and wells—at $66.36 a share, a 56.3% premium to Tuesday’s closing price. Amid the downturn in the energy sector, Cameron shares had fallen 42% over the past 12 months, but they surged 45% to $61.40 in premarket trading Wednesday."
6
Posted on 8/26/15 at 8:12 am to good_2_geaux
They'll be some bag holders though.
Posted on 8/26/15 at 8:38 am to good_2_geaux
Posted on 8/26/15 at 9:29 am to good_2_geaux
Just talked to my roommate who works for Cameron. Hes been telling me about this as a possibility for a few weeks now. Hes claiming the merger was welcomed by both parties, and Cameron expects few divestitures.
Posted on 8/26/15 at 9:42 am to mkibod1
quote:
Just talked to my roommate who works for Cameron. Hes been telling me about this as a possibility for a few weeks now. Hes claiming the merger was welcomed by both parties, and Cameron expects few divestitures.
There are always cuts in a merger.
Posted on 8/26/15 at 9:43 am to good_2_geaux
Worked for Cameron for almost 10 years. While I was there the rumor was that GE was going to buy out Cameron, but I had heard rumors of Schlumberger as well. One Subsea was the start and I guess this is the end
Posted on 8/26/15 at 10:01 am to lynxcat
quote:
There are always cuts in a merger.
Agreed but it being a merger and not take over should yield slightly better results as far as cuts go.
Posted on 8/26/15 at 10:48 am to good_2_geaux
I've been expecting to see Weatherford get sucked up by SLB. Never saw Cameron as a target.
Posted on 8/26/15 at 11:16 am to DonChowder
quote:tons of debt for any suitor to take on.
I've been expecting to see Weatherford get sucked up by SLB.
Posted on 8/26/15 at 12:53 pm to good_2_geaux
Been holding a slug of Cameron stock
Should I sell now or wait?
This post was edited on 8/26/15 at 1:13 pm
Posted on 8/26/15 at 7:35 pm to TJG210
Shareholder alert
This may take a while to complete. Cam up over $17 a share today. Some might consider taking the gains and calling it a day.
This may take a while to complete. Cam up over $17 a share today. Some might consider taking the gains and calling it a day.
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