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August 18, 2014
06:27 EDTIR, CAMIngersoll Rand to acquire Cameron's centrifugal compressional division for $850M
Ingersoll-Rand (IR) announced it has entered into an agreement to acquire the assets of Cameron (CAM) Centrifugal Compression division for $850M. The acquisition is expected to close before the end of the year, subject to regulatory approval. The division provides centrifugal compression equipment and aftermarket parts and services for global industrial applications, air separation, gas transmission and process gas. Cameronís Centrifugal Compression division generated sales of approximately $400M in 2013, has approximately 850 employees and operates from 12 global locations. Ingersoll Rand plans to fund the acquisition through a combination of cash on hand and debt.
News For IR;CAM From The Last 14 Days
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February 8, 2016
14:28 EDTIRNotable companies reporting before tomorrow's open
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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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06:23 EDTIR20 companies make alliance to keep down healthcare costs, WSJ says
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February 3, 2016
06:31 EDTIRIngersoll-Rand increases dividend 10% to 32c per share
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January 28, 2016
07:39 EDTCAMCameron expects transaction with Schlumberger to close in 1Q16
07:39 EDTCAMCameron expects energy prices declines to have negative impact in 2016 business
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07:38 EDTCAMCameron reports Q4 EPS excluding items $1.08, consensus 73c
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