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Stock Market & Financial Investment News

News Breaks
July 9, 2014
18:10 EDTSLBSchlumberger can continue higher, Barron's says
Schlumberger shares have rallied and could continue higher, driven by analyst confidence and a strong outlook, Barron's contends in its Barron's Take column. Although the stock isn't cheap, trading at over 17 times forward earnings, the stock still trades under historical valuation levels, the paper adds. Reference Link
News For SLB From The Last 14 Days
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February 5, 2016
13:00 EDTSLBSchlumberger, 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 EDTSLBSchlumberger's acquisition of Cameron cleared by EU, Reuters reports
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January 28, 2016
07:39 EDTSLBCameron expects transaction with Schlumberger to close in 1Q16

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