Schlumberger in $11.34B deal to acquire Smith International

02/21/2010 | Reuters

Schlumberger struck a deal to purchase Smith International for $11.34 billion. The agreement, which requires shareholder and regulatory approval, will raise Schlumberger's revenue to double that of Halliburton, its closest competitor. "Smith's drilling technologies, other products and expertise complement our own," Schlumberger CEO Andrew Gould said.

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