Schlumberger-Cameron merger cleared by US DOJ

The proposed $14.8-billion merger of Schlumberger Ltd. and Cameron International Corp. has been unconditionally cleared by the US Department of Justice, granting early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act (OGJ Online, Aug. 26, 2015).

Completion of the proposed merger remains subject to approval by Cameron stockholders and the satisfaction or waiver of other closing conditions in the merger agreement. A special meeting of Cameron stockholders is scheduled for Dec. 17, during which they are expected to cast their votes.

Schlumberger and Cameron expect to close the merger in first-quarter 2016. Until then, the companies will continue to operate separately and independently.