HOUSTON, Dec. 17, 2015 /PRNewswire/ -- Cameron (NYSE:
CAM) announced that its stockholders, at a special meeting held
earlier today, have overwhelmingly voted to adopt the previously
announced merger agreement providing for the acquisition of
Cameron by a wholly owned
subsidiary of Schlumberger Limited. Upon completion of the
transaction, each share of Cameron
common stock will convert into the right to receive 0.716 shares of
common stock of Schlumberger Limited and a cash payment of
$14.44.
"We are pleased that our stockholders have clearly recognized
and endorsed the significant value generated by this
transaction," said Scott Rowe,
President and Chief Executive Officer of Cameron. "The
combination of the two organizations will create a premier oilfield
equipment and services company uniquely positioned to deliver
superior value to the industry."
The transaction remains subject to regulatory approvals and
customary closing conditions, and the companies expect the
acquisition will close in the first quarter of 2016.
Cameron is a leading provider
of flow equipment products, systems and services to worldwide oil
and gas industries.
Forward-Looking Statements
This communication contains "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. 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 performance and any other statements
regarding 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. Cameron cannot give any assurance that such
expectations will prove to have been correct. 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, the timing to consummate the proposed
transaction and other risk factors that are discussed in
Schlumberger's and Cameron's most
recent 10-Ks, Schlumberger's registration statement on Form S-4,
including Amendment No. 1 thereto, filed with the SEC, as well as
each company's other filings with the SEC available at the SEC's
Internet site (http://www.sec.gov). Actual results may differ
materially from those expected, estimated or projected.
Forward-looking statements speak only as of the date they are made,
and Cameron undertakes no
obligation to publicly update or revise any of them in light of new
information, future events or otherwise.
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visit:http://www.prnewswire.com/news-releases/cameron-stockholders-vote-to-adopt-merger-agreement-with-schlumberger-300194648.html
SOURCE Cameron
