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Schlumberger to Buy Cameron International

Schlumberger to Buy Cameron International

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by: aggiebutterfly Active Indicator LED Icon 11 OP 
~ 8 years ago   Aug 26, '15 9:48am  
Wow...Schlumberger Ltd. on Wednesday said it agreed to buy Cameron International Corp. for about $12.74 billion in cash and stock, the latest move by the world’s biggest oil-field services company as the industry struggles with lower prices and rising supply.http://www.wsj.com/articles/schlumberger-to-buy-cameron-international-for-12-7-billion-1440584852 4951
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yankeejessica Active Indicator LED Icon 12
~ 8 years ago   Aug 26, '15 9:52am  
Wow...Schlumberger Ltd. on Wednesday said it agreed to buy Cameron International Corp. for about $12.74 billion in cash and stock, the latest move by the world’s biggest oil-field services company as the industry struggles with lower prices and rising supply.http://www.wsj.com/articles/schlumberger-to-buy-cameron-international-for-12-7-billion-1440584852
 
@aggiebutterfly:
 
Good news for us. Schlumberger is one of dh's main customers! 4951
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ET Active Indicator LED Icon 17
~ 8 years ago   Aug 26, '15 10:08am  
Any company with cash is going to have a field day in this market - some pretty good deals available in the energy world.  4951
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squirtismyboy Active Indicator LED Icon 16
~ 8 years ago   Aug 26, '15 10:13am  
That is outstanding news for so many of my buddies! I hope they call back those who are still laid off 4951
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ET Active Indicator LED Icon 17
~ 8 years ago   Aug 26, '15 10:18am  
That is outstanding news for so many of my buddies! I hope they call back those who are still laid off
 
@squirtismyboy: I'm not thinking this will be a hiring opportunity, probably the opposite.
4951
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FoFa Active Indicator LED Icon 17
~ 8 years ago   Aug 26, '15 10:18am  
Any company with cash is going to have a field day in this market - some pretty good deals available in the energy world. 
 
@ET: Yea, but they are talking about freezing the budgets again.
Lets not forget they let go 20,000 people the last 8 months 4951
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HotterThanYou Active Indicator LED Icon 1
~ 8 years ago   Aug 26, '15 10:22am  
That is outstanding news for so many of my buddies! I hope they call back those who are still laid off
 
@squirtismyboy: I'd say more consolidation is likely.  Probably not a positive for the employees, at least not in the immediate future.
4951
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ET Active Indicator LED Icon 17
~ 8 years ago   Aug 26, '15 10:22am  
Lets not forget they let go 20,000 people the last 8 months
 
@FoFa: It is going to be a much smaller energy world over the next year and probably beyond.
4951
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squirtismyboy Active Indicator LED Icon 16
~ 8 years ago   Aug 26, '15 10:32am  

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>> That is outstanding news for so many of my buddies! I hope they call back those who are still laid off
 
@squirtismyboy: I'd say more consolidation is likely.  Probably not a positive for the employees, at least not in the immediate future.
 
@HotterThanYou:
 
I hate to hear that. A lot of good hard workers going through tough times right now. 4951
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Stealth83 Active Indicator LED Icon 16
~ 8 years ago   Aug 26, '15 10:43am  
Removed By Request 4951
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Chrisinkingwood Active Indicator LED Icon 8
~ 8 years ago   Aug 26, '15 12:57pm  
I thought Schlumberger was laying off folks earlier this year. Is Camron Int. what used to be Cameron Iron and Steal? 4951
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Mahm Active Indicator LED Icon 9
~ 8 years ago   Aug 26, '15 1:34pm  

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>> That is outstanding news for so many of my buddies! I hope they call back those who are still laid off
 
@squirtismyboy: I'm not thinking this will be a hiring opportunity, probably the opposite.
 
@ET:
 
Schlumberger bought the company my dad worked for. Two years later he was forced into retirement. 4951
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ET Active Indicator LED Icon 17
~ 8 years ago   Aug 26, '15 1:47pm  

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>>
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>> That is outstanding news for so many of my buddies! I hope they call back those who are still laid off
 
@squirtismyboy: I'm not thinking this will be a hiring opportunity, probably the opposite.
 
@ET:
 
Schlumberger bought the company my dad worked for. Two years later he was forced into retirement.
 
@Mahm: Unfortunate, but these deals usually involve getting rid of a bunch of people. Some redundant positions and some "we can do it better".  That's how they afford the premium price to swing the deal.
4951
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Retired_Engineer Active Indicator LED Icon 13
~ 8 years ago   Aug 26, '15 1:58pm  
@squirtismyboy: I'd say more consolidation is likely.  Probably not a positive for the employees, at least not in the immediate future.
 
@HotterThanYou:  Exactly correct.  They won't need duplication of departments.  They'll merge the two and will not need as many people.  Consolidation is a word corporations love, but employees learn to hate/fear.
4951
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squirtismyboy Active Indicator LED Icon 16
~ 8 years ago   Aug 26, '15 3:24pm  
I guess I was hoping it'd be like when my company got bought. I shot up like a rocket under the new regime until I declined just one promotion. Then I got placed in a poop job until I decided to go back into the labor side of things. Nowadays I know I made the right decision but nonetheless all our jobs were preserved and we've tripled in size since the takeover in 2005 4951
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