Cameron International Corp. (CAM) announced Wednesday morning that it has agreed to be acquired by Schlumberger (SLB). Cameron shareholders will receive 0.716 shares of Schlumberger common stock and $14.44 in cash for each Cameron share.
Cameron International has gapped open sharply higher this morning and is now up 19.34 at $61.81 on the highest volume in 7 months. The stock has soared to a 10 1/2 month high.
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