UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 10, 2013
Cameron International Corporation
(Exact name of registrant as specified in its charter)
Delaware |
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1-13884 |
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76-0451843 |
(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
1333 West Loop South, Suite 1700, Houston, Texas |
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77027 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrants telephone number, including area code: 713-513-3300
Not Applicable
(Registrants Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On December 10, 2013 Cameron International Corporation (the Company) issued a press release announcing that its Board of Directors increased the Companys share repurchase authorization by $750 million.
A copy of the press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
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Description |
99.1 |
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Press Release of the Company, dated December 10, 2013. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CAMERON INTERNATIONAL CORPORATION | |
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Date: December 10, 2013 |
By: |
/s/ William Lemmer |
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William Lemmer |
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Senior Vice President and General Counsel |
Exhibit 99.1
Contact: Jeff Altamari
Vice President, Investor Relations
(713) 513-3344
CAMERON BOARD APPROVES $750 MILLION INCREASE
IN SHARE REPURCHASE AUTHORIZATION
HOUSTON (December 10, 2013) Cameron (NYSE: CAM) today announced that its Board of Directors has approved an increase in the Companys share repurchase authorization by an additional $750 million. Cameron also intends to add debt to its capital structure in the near term, while continuing to maintain a strong investment-grade profile and a balance sheet that provides the financial flexibility to pursue its strategic objectives.
Cameron entered the fourth quarter of 2013 with an outstanding authorization of $1.050 billion. During the fourth quarter, through December 10, 2013, Cameron purchased $756.4 million, or 13.7 million, of its shares. Including the additional $750 million authorization announced today, the total remaining authorization as of December 10, 2013 is $1.044 billion.
Jack Moore, Cameron Chairman and Chief Executive officer stated, With this additional share repurchase authorization, Cameron reaffirms its commitment to driving value for shareholders. Year to date, Cameron has returned $1.332 billion to shareholders, representing 23.5 million shares retired through share repurchase programs. In addition to capital returns, we are creating value for shareholders through focused execution of our growth strategy by leveraging the strong sales and order momentum in our core markets, expanding product and service offerings in strategic growth areas and optimizing our operational platform to maximize our potential.
The Company will be disciplined and opportunistic with respect to its remaining authorization, but intends to aggressively repurchase shares if market conditions and other factors permit.
Cameron is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries. For more information, visit www.c-a-m.com.
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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Forward-looking statements include estimates and give our current expectations or forecasts of future events. Although we believe our forward-looking statements are reasonable, they can be affected by inaccurate assumptions or by known or unknown risks and uncertainties, and actual results may differ from the expectations expressed.