HOUSTON, Feb. 5, 2016 /PRNewswire/ -- Schlumberger
Limited (NYSE: SLB) and Cameron International Corporation (NYSE:
CAM) jointly announced today 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 Peoples' 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.
About Schlumberger
Schlumberger is the world's leading
supplier of technology, integrated project management and
information solutions to customers working in the oil and gas
industry worldwide. Employing more than 95,000 people representing
over 140 nationalities and working in more than 85 countries,
Schlumberger provides the industry's widest range of products and
services from exploration through production. Schlumberger Limited
has principal offices in Paris,
Houston, London and The
Hague, and reported revenues of $35.47 billion in 2015. For more information,
visit www.slb.com.
About Cameron
Cameron is a leading provider of
flow equipment products, systems and services to worldwide oil and
gas industries.
Cautionary Note Regarding 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 expected timetable for completing the
proposed transaction, and other statements regarding Schlumberger's
and Cameron's future expectations,
beliefs, plans, objectives, assumptions or future events or
performance that are not statements of historical fact, are
forward-looking statements. Neither Schlumberger nor Cameron can give any assurance that such
expectations will prove correct. These statements are subject to,
among other things, satisfaction of the closing conditions to the
merger and other risk factors that are discussed in Schlumberger's
and Cameron's most recent Annual
Reports on Form 10-K and the definitive proxy statement/prospectus
referred to below, 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 neither Schlumberger nor Cameron undertakes any obligation to publicly
update or revise any of them in light of new information, future
events or otherwise.
Additional Information
In connection with the proposed
transaction, Schlumberger has filed with the SEC a registration
statement on Form S-4, including Amendment No. 1 thereto, which was
declared effective by the SEC on November
16, 2015, and Cameron has
filed the definitive proxy statement/prospectus on November 17, 2015. This communication is
not a substitute for the definitive proxy statement/prospectus, the
registration statement or any other document Schlumberger or
Cameron may file with the SEC in
connection with the proposed transaction.
STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY
STATEMENT/PROSPECTUS, THE REGISTRATION STATEMENT AND OTHER
DOCUMENTS THAT HAVE BEEN AND THAT MAY BE FILED WITH THE SEC
REGARDING THE PROPOSED TRANSACTION CAREFULLY AND IN THEIR ENTIRETY
AS AND WHEN THEY ARE AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. These
materials will be made available to stockholders of Cameron at no expense to them. Investors will
be able to obtain free copies of these documents and other
documents filed with the SEC by Schlumberger and/or Cameron through the website maintained by the
SEC at http://www.sec.gov. Copies of the documents filed with the
SEC by Schlumberger are available free of charge on Schlumberger's
internet website at http://www.slb.com. Copies of the documents
filed with the SEC by Cameron are
available free of charge on Cameron's internet website at
http://www.c-a-m.com. You may also read and copy any reports,
statements and other information filed by Cameron or Schlumberger with the SEC at the
SEC public reference room at 100 F Street N.E., Room 1580,
Washington, D.C. 20549. Please
call the SEC at (800) 732-0330 or visit the SEC's website for
further information on its public reference room.
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SOURCE Cameron