Fox Business - The Power to Prosper
Search Site

Smith International

National Oilwell Paid $800 Million For Schlumberger Unit - Filing

National Oilwell Varco Inc. (NOV) agreed to pay Schlumberger Ltd. (SLB) $800 million for its Wilson oilfield-equipment distribution business, according to a quarterly securities filing.Though the deal for Wilson International Inc. was announced last month, financial terms were not disclosed until Tuesday when National Oilwell filed its quarterly financial report with securities regulators.The price is in line with analyst estimates.Schlumberger, the world's largest oilfield-services company, acquired Wilson in 2010 as part of its merger with Smith International.Houston-based National Oilwell has grown, largely through acquisitions, to become the world's largest manufacturer of oilfield equipment. Wilson was the National Oilwell's second significant acquisition so far this year. Last month it closed a $670-million purchase of Norwegian subsea-pipe maker NKT Flexibles.In Wilson, National Oilwell will "effectively" double the footprint of its own distribution business, analysts with Simmo...

Read More

  1. Ready, Set, Invest

    Morgan Stanley Smith Barney's David Darst breaks down why the market is poised for a comeback.

  2. FACTBOX-Foreign companies stepping away from Iran

    (Updates with new details)Oct 1 (Reuters) - European oil majors resisted pressure from the United States to abandon all Iranian activities, saying they would continu...

  3. UBS's energy investment bankers bolt for Citigroup

    * Trauber says 10 senior bankers moving to Citi (Adds details from Citi, Trauber)By Michael ErmanNEW YORK (Reuters) - UBS's global headof energy investment banking a...

  4. Tyco International Shares Up on Future Inclusion in S&P 500 Index

    Tyco International, Ltd. (NYSE:TYC), a provider of security services and products, closed nearly 6% higher Friday after news of its future inclusion in the S&P 500 i...

  5. Tyco to Join S&P 500

    Tyco International will be replacing Smith in the S&P 500. Meanwhile, Intuit is forecasting an upbeat fiscal 2011.

  6. Baker Hughes Q2 hit by int'l shortfall, stock down

    (Rewrites, adds details, SAN FRANCISCO to dateline)NEW YORK/SAN FRANCISCO (Reuters) - Baker Hughes Inc , the third-largest U.S.-listed oilfield services company, pos...

  7. Moratorium hurts Baker Hughes, Smith International

    NEW YORK (Reuters) - Baker Hughes Inc , the third-largest U.S.-listed oilfield services company, posted a higher quarterly profit but warned the drilling moratorium ...

Freebase CC-BY
Source: Smith International on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL