Merger of Cameron with Schlumberger

9 Months Ended

Sep. 30, 2015

Business Combinations [Abstract]

Acquisition of Cameron with Schlumberger

of Cameron with Schlumberger

On August 26, 2015, Cameron and Schlumberger Limited "Schlumberger" announced that the companies had entered into an Agreement and Plan of Merger (the “Merger Agreement”) whereby a U.S. subsidiary of Schlumberger would acquire all of the issued and outstanding stock of Cameron. 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 common share. The Merger Agreement was unanimously approved by the board of directors of both companies. Consummation of the Merger is subject to customary closing conditions, including (a) approval by a majority of the Cameron stockholders of the Merger Agreement and (b) receipt of required regulatory consents and approvals. Schlumberger stockholders are not required to vote on the Merger Agreement. Should Cameron terminate the Merger Agreement in specified circumstances, the Company would be required to pay Schlumberger a termination fee equal to $321 million. This transaction is currently expected to close during the first quarter of 2016.