Schlumberger to buy Camco International

Article Abstract:

Schlumberger Ltd., the world's largest oil-services company, has agreed to acquire Camco International Inc. for $2.97 billion in stock, and in doing so, fill a gap in their oil services businesses. The move has been considered a good one, but some critics feel the price was too high, considering Camco's recent fall from its 52-week high of $82.50 a share. The move was inspired by a previous merger by Halliburton Co. and Dresser Industries Inc. which created a larger oil service company than Schlumberger.

Comment:

French company to buy US company, Camco, for $2.97 billion

Foreign operations, France, Oil & Gas Field Services, Support Activities for Mining, Schlumberger Ltd., Camco International Inc.

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AlliedSignal's AMP bid gains support

Article Abstract:

AlliedSignal Inc. announced that majority stockholders of AMP Inc. have given their approval to a takeover attempt by AlliedSignal. The stockholders, who hold 72% of AMP stock, approved of a $44.50 per share hostile takeover offer. AlliedSignal also said it would acquire up to 18% of AMP stock from present shareholders. This would increase its share to just under the 20% level which would lead to AMP's poison-pill takeover defense.

Comment:

AlliedSignal Inc. says majority stockholders of AMP Inc. approve of takeover attempt by AlliedSignal

Other Electrical Equipment and Component Manufacturing, Electronic Components, AlliedSignal Inc., AMP Inc.

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Armstrong World plans to acquire Triangle Pacific

Article Abstract:

Armstrong World Industries Inc. has reached an agreement to purchase Triangle Pacific Corp. for approximately $890 million. Under the deal, Armstrong will assume $260 million in debt. The acquisition could make Armstrong a major presence in the hard-surface flooring business. The company had just announced its plans to acquire DLW AG, an additional floor maker.

Other Millwork (including Flooring ), Hardwood Flooring, Armstrong World Industries Inc., Triangle Pacific Corp.

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