Business Wire

Schlumberger Recommends Stockholders Reject “Mini-Tender” Offer by TRC Capital Corporation

Jaa

Schlumberger Limited (NYSE: SLB) (“Schlumberger”) has been notified of an unsolicited “mini-tender” offer by TRC Capital Corporation (“TRC Capital”) to purchase up to 2 million shares of Schlumberger common stock, representing approximately 0.14 percent of Schlumberger’s shares of common stock outstanding. TRC Capital’s offer price of $65.63 per share is approximately 4.3 percent below the closing price per share of Schlumberger’s common stock on June 16, 2017, the last trading day before the commencement of TRC Capital’s offer.

Schlumberger does not endorse TRC Capital’s unsolicited mini-tender offer and is not associated in any way with TRC Capital, its mini-tender offer, or its mini-tender offer documents.

Because TRC Capital’s offer price is at a price below the current market price for Schlumberger’s common stock, Schlumberger recommends that stockholders reject this unsolicited offer or, if stockholders have already tendered shares, that they withdraw their shares by providing the written notice described in the TRC Capital mini-tender offer documents prior to the expiration of the offer, currently scheduled for 12:01 a.m., New York City time, on Wednesday, July 19, 2017.

TRC Capital’s mini-tender offer seeks less than 5 percent of Schlumberger’s outstanding common stock, thereby avoiding many disclosure requirements and procedural protections of the SEC. The SEC has cautioned investors that some bidders make mini-tender offers at below-market prices “hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price.” The SEC’s cautionary advice to investors regarding these offers is on its website at: http://www.sec.gov/investor/pubs/minitend.htm.

Stockholders should obtain current market quotations for their shares of Schlumberger common stock, consult with their broker or financial advisor, and exercise caution with respect to TRC Capital’s mini-tender offer.

Schlumberger encourages brokers and dealers, as well as other market participants, to review the SEC’s letter regarding broker-dealer mini-tender offer dissemination and disclosure at http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.

Schlumberger requests that a copy of this press release be included with all distributions of materials relating to TRC Capital’s mini-tender offer related to shares of Schlumberger’s common stock.

About Schlumberger

Schlumberger is the world’s leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry’s most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.

Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $27.81 billion in 2016. For more information, visit www.slb.com.

Contact information

Schlumberger Limited
Simon Farrant – Schlumberger Limited, Vice President of Investor Relations
Joy V. Domingo – Schlumberger Limited, Manager of Investor Relations
Tel: +1 (713) 375-3535
investor-relations@slb.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

The European Project AMable Launches Its First Open Call17.7.2018 11:00Tiedote

The European Project AMable has launched its First Open Call to find innovative ideas for additively manufactured products. The selected teams will be supported by AMable to develop an idea towards a final product by offering the services across all steps from design to finish. As a Factories of the Future (FoF) project participating in I4MS (ICT for Manufacturing SMEs) and with the support of the European Union's Horizon 2020 research and innovation programme, the aim of AMable project is to accelerate the uptake of additive manufacturing (AM) technologies; from design to manufacture for functional parts throughout the European Union. AMable is creating a digital framework to provide impartial access to the best European AM knowledge to support this adoption. This knowledge will be offered as advanced and tailored services to assist SMEs in the uptake of AM and include technological, business and training services. For this Open Call, the European Project is looking for original ideas

Norsk Titanium Marks Milestone in U.S. Production17.7.2018 10:00Tiedote

The University of Notre Dame Turbomachinery Laboratory (NDTL), Norsk Titanium US, Inc. (Norsk), Pratt & Whitney and TURBOCAM International are collaborating to develop and test additively manufactured turbomachinery components. This collaboration will focus on exploring the applicability of Norsk’s Rapid Plasma Deposition™ (RPD™) material to turbomachinery applications. As part of this effort, NDTL will test an additively manufactured integrally bladed rotor (IBR) produced and inspected to meet the applicable quality specifications used in Pratt & Whitney’s current turbomachinery components. The team has completed the initial phase of testing, with TURBOCAM International conducting machining trials of Norsk’s RPD™ material, and Pratt & Whitney successfully inspecting the material to the same specification as forged turbomachinery components. The material’s manufacturing qualities were evaluated for applicability to TURBOCAM’s precision milling processes. “We were very pleased with the

More Than Half of Sub-Saharan Africa to Be Connected to Mobile by 2025, Finds New GSMA Study17.7.2018 10:00Tiedote

More than half the population of Sub-Saharan Africa will be subscribed to a mobile service by 2025, according to the latest edition of the GSMA’s Mobile Economy report series, published at the GSMA ‘Mobile 360 – Africa’ event being held in Kigali this week. The new report forecasts that there will be 634 million unique mobile subscribers1 across Sub-Saharan Africa by 2025, equivalent to 52 per cent of the population, up from 444 million (44 per cent) at the end of last year. The report also calculates that the mobile ecosystem will add more than $150 billion in value to Sub-Saharan Africa’s economy by 2022, equivalent to almost 8 per cent of regional GDP. “For many citizens across the region, particularly those living in rural areas, a mobile phone is not just a communications device but also the primary channel for getting online and a vital tool for improving their lives,” commented John Giusti, Chief Regulatory Officer at the GSMA. “More needs to be done to extend connectivity to th

GSMA Finds That Consumers in Developing Countries Are Hard Hit by High Spectrum Prices17.7.2018 09:00Tiedote

Better spectrum pricing policies are needed in developing countries to improve the economic and social welfare of the billions of people that remain unconnected to mobile broadband services, according to a new report, ‘Spectrum Pricing in Developing Countries’, released by the GSMA today at the Mobile 360 – Africa conference in Kigali. The study reveals that spectrum prices in developing countries are, on average, more than three times higher than in developed countries, when income is taken into account. This high spectrum pricing is a major roadblock to increasing mobile penetration. Authored by GSMA Intelligence, the study also found that governments are playing an active role in increasing spectrum prices to maximise state revenues from spectrum licensing. High spectrum prices are linked to countries with high levels of sovereign debt, and alarmingly average reserve prices in spectrum auctions are more than five times higher in developing countries than in developed, once income is

NEC and dotData Use AI to Accelerate Data Science for the SMBC Group17.7.2018 07:38Tiedote

NEC Corporation (NEC) (TOKYO:6701) and dotData, Inc., a Silicon Valley venture in the automation of data science, today announced the provision and full operation of “dotData” platform for the Sumitomo Mitsui Financial Group, Inc. (SMBC Group) in order to strengthen the Group’s analytical capabilities. In recent years, the need for big data analytics has been growing rapidly. However, there is also an increasing shortage of data scientists to handle this need. In order to address this issue, dotData automates data science processes through artificial intelligence (AI). dotData platform is now commercially available globally. NEC has obtained an exclusive license from dotData to provide this software across Japan. Sumitomo Mitsui Banking Corporation, NEC and the dotData team have actively worked to incorporate AI into banking operations in order to create new service offerings since 2016. Following this success, the SMBC Group is now expanding the provision of dotData platform throughou

Cushman & Wakefield To Acquire Its Irish Affiliate From Sherry FitzGerald Group16.7.2018 16:49Tiedote

Global real estate services firm Cushman & Wakefield today announces it has entered into a definitive agreement to acquire the commercial property arm of Sherry FitzGerald Group in the Republic of Ireland. The deal is expected to complete in early September 2018. Cushman & Wakefield already has a 20% stake in the Irish commercial property business which operated as its exclusive affiliate in the Republic – rebranding two years ago as Cushman & Wakefield Ireland. The firm, which has more than 100 commercial property professionals and offices in Dublin, Limerick and Galway, will now be fully integrated into Cushman & Wakefield, one of the world’s largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. Managing Director Aidan Gavin becomes Cushman & Wakefield’s Head of Ireland and will also sit on the firm’s UK & Ireland Executive Committee. Cushman & Wakefield will maintain its close affiliate relationship with the wider Sherry FitzGerald G

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme