On Sunday, international oil services company Schlumberger Ltd. announced plans to merge with Houston-based Smith International — a supplier of oil exploration and production equipment. If approved, the $11 billion dollar purchase would bring Schlumberger — already the biggest oilfield services company in the world — revenues twice as high as its chief competitor Halliburton Co., according to The Wall Street Journal.
Goldman Sachs & Co. served as Schlumberger’s financial adviser on the deal — under which Schlumberger will buy Smith for roughly $45.84 per share — and Baker Botts acted as legal counsel, according to Schlumberger’s announcement. Smith, meanwhile, was represented by UBS Investment Bank and Wachtell, Lipton, Rosen & Katz.
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