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BUSINESS
March 18, 1987
Baker said it signed a letter of intent to sell substantially all of its Reed Tool division, which has a 19% share of the worldwide market for oil field rock bits, to Camco Inc., a small Houston-based oil service company. The sale, if approved by the Justice Department, would make way for the $1.2-billion merger of Baker and Hughes Tool Co. The price of the transaction was not disclosed.
BUSINESS
June 20, 1998 | Bloomberg News
New York-based Schlumberger Ltd., a leading oil field services company, said it agreed to buy one of its smaller rivals, Camco International Inc., in a stock swap worth about $3.1 billion. Word of the acquisition sent Houston-based Camco's stock soaring almost 20%, gaining $12.48 to close at $74.73 on the New York Stock Exchange. Schlumberger's stock fell $3.69 to close at $66.25, also on the NYSE. The $3.
BUSINESS
March 18, 1987 | LESLIE BERKMAN, Times Staff Writer
Baker International Corp. said Tuesday that it had signed a letter of intent to sell substantially all of its Reed Tool division to Camco Inc., a small Houston-based oil service company. The sale, if approved by the U.S. Justice Department, would clear the way for the proposed $1.2-billion merger of Baker and Hughes Tool Co.
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