Cameron stockholders vote to adopt merger agreement with Schlumberger

Cameron’s (NYSE: CAM) stockholders, at a special meeting held Dec. 17, have voted to adopt the merger agreement providing for the acquisition of Cameron by a wholly owned subsidiary of Schlumberger Ltd. 

Upon completion of the transaction, each share of Cameron common stock will convert into the right to receive 0.716 shares of common stock of Schlumberger and a cash payment of $14.44.

The transaction remains subject to regulatory approvals and customary closing conditions, and the companies expect the acquisition will close in the first quarter of 2016.

Cameron provides flow equipment products, systems, and services to worldwide oil and gas industries.

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