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BREAKING NEWS

Schlumberger to merge with Smith International

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Schlumberger to merge with Smith International

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A big merger in the energy sector. Schlumberger, which is the number one oilfield services company, is to buy Smith International.

The all-stock deal is worth the equivalent of 8.3 billion euros.

It will boost Schlumberger’s revenue to double that of its nearest rival, Halliburton.

The merger will have to be approved by shareholders and competition regulators.