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$SLB / $CAM (SLB +2.7%) is offering more

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Timothy Smith   Friday, 08/28/15 07:05:38 PM
Re: None
Post # of 5210 
$SLB / $CAM (SLB +2.7%) is offering more than $66 in cash and stock per share while takeover target Cameron International’s (CAM +2.5%) private market value may be only $63, according to Gabelli analysts who lower their recommendation on CAM to Hold from Buy.

The firm says arbitrageurs can earn a respectable ~10% annualized return on the deal, assuming a successful close by the end of Q1 2016 and given the current $3.62 deal spread.

However, the firm believes the deal makes strategic sense for both companies, combining SLB’s subsurface and wellbore expertise with the largest surface technology and second-largest subsea equipment manufacturer, and expects the deal will close with minimal regulatory scrutiny.

Purely My Own Opinion. Do Your Own Due Diligence.

“Formula for success: rise early, work hard, strike oil.” - J. Paul Getty
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