- This weekend, Schlumberger Ltd (NYSE: SLB) and Smith International, Inc. (NYSE: SII) confirmed rumors late last week that the two companies would merge.
Under the terms of the agreement, Smith shareholders will receive 0.6966 shares of Schlumberger in exchange for each Smith share.
Based upon the undisturbed closing stock prices for both companies on February 18, 2010, the agreement places a value of $45.84 per Smith share.
Shares of Smith International closed at $37.70 per share on Friday, rising from...
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