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Stock Market & Financial Investment News

News Breaks
February 18, 2013
11:05 EDTCAMCameron signs agreement with EEPNL to supply subsea production systems
Cameron has signed an agreement with EEPNL, an ExxonMobil affiliate, for the supply of subsea production systems to the Erha North Phase 2 development. The scope of supply includes five subsea production trees, two water injection trees, three manifolds, production and topside controls and associated equipment. Deliveries will commence in 2014.
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February 5, 2016
13:00 EDTCAMSchlumberger, Cameron merger receives unconditional clearance from EU
Schlumberger Limited (SLB) and Cameron (CAM) jointly announced that the European Commission has cleared their proposed merger without any conditions following a Phase 1 review. As previously announced, the U.S. Department of Justice cleared the proposed merger in November 2015 without any conditions; Cameron stockholders voted on December 17 to adopt the merger agreement between Schlumberger and Cameron; and antitrust clearances have been obtained in Canada, Brazil, Russia, and Mexico. Under the terms of the merger agreement, Schlumberger and Cameron only await regulatory approval from the Ministry of Commerce of the People's Republic of China. The Chinese authorities started their 30-day Phase 1 review process on February 4, 2016. The closing of the proposed merger remains subject to the satisfaction or waiver of the remaining customary closing conditions contained in the merger agreement. Schlumberger and Cameron expect to close the merger in the first quarter of 2016. Until that time, the companies will continue to operate as separate and independent entities and continue to serve their respective customers.
06:45 EDTCAMSchlumberger's acquisition of Cameron cleared by EU, Reuters reports
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