Schlumberger Limited and Cameron International Corporation have jointly announced that the U.S. Department of Justice (DoJ) has cleared their proposed merger without any conditions, granting early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the proposed merger.
Cameron is a leading provider of flow equipment products, systems and services, including valves, servicing the oil and gas industries. Schlumberger is a leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide.
The closing of the proposed merger remains subject to approval by Cameron stockholders and the satisfaction or waiver of the other closing conditions contained in the merger agreement between Schlumberger and Cameron. As previously announced by Cameron, the special meeting of stockholders of Cameron is scheduled for December 17, 2015.
Subject to receipt of approval from Cameron stockholders and satisfaction or waiver of other closing conditions contained in the merger agreement, Schlumberger and Cameron expect to close the merger in the first quarter of 2016.