On Wednesday, Shares of Schlumberger Limited (NYSE:SLB), lost -1.51% to $74.40.
Schlumberger Limited and Cameron jointly declared a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of directors of both companies.
Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share.
Based on the closing stock prices of both companies on August 25, 2015, the agreement places a value of $66.36 per Cameron share, representing a 37.0% premium to Cameron’s 20-day volume weighted average price of $48.45 per share, and a 56.3% premium to Cameron’s most recent closing stock price of $42.47 per share. Upon closing, Cameron shareholders will own about 10% of Schlumberger’s outstanding shares of common stock.
Schlumberger Limited supplies technology, integrated project administration, and information solutions to the oil and gas exploration and production industries worldwide. The company operates through Reservoir Characterization Group, Drilling Group, and Production Group segments.
Shares of American International Group Inc (NYSE:AIG), declined -1.18% to $58.54, during its last trading session.
American International Group declared that David Herzog, Executive Vice President and Chief Financial Officer, would present at the Barclays Global Financial Services Conference on Thursday, September 17, 2015, at 2:45 p.m. EDT in New York City.
American International Group, Inc. (AIG) is a leading global insurance organization-serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally.
Finally, Newfield Exploration Co. (NYSE:NFX), ended its last trade with -0.56% loss, and closed at $33.95.
Newfield Exploration Company, planned to present at the following events:
- Barclays Capital CEO Energy-Power Conference
8:25 a.m. (Eastern), September 10, 2015
- UBS Houston Energy Bus-less Tour
11:15 a.m. (Central), September 17, 2015
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. The company’s primary areas of operation comprise the Mid-Continent, Rocky Mountains, and onshore Gulf Coast regions in the United States. It also holds offshore oil developments in China.
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