A lawsuit was filed for investors in shares of Cameron International Corporation (NYSE:CAM) in connection with the proposed takeover was announced and NYSE:CAM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/07/2015 -- A shareholder in shares of Cameron International Corporation (NYSE:CAM), filed a lawsuit in effort to halt the proposed takeover of Cameron International Corporation by Schlumberger Limited for a value of approximately $66.36 per share.
On Aug. 26, 2015 Schlumberger Limited (NYSE: SLB) and Cameron International Corporation (NYSE:CAM) announced a merger agreement in which the companies will combine in a stock and cash transaction.
Investors who purchased shares of Cameron International Corporation (NYSE:CAM) and currently hold any of those NYSE:CAM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CAM stockholders by agreeing to sell NYSE:CAM too cheaply via an unfair process to Schlumberger Limited.
Under the terms of the agreement, Cameron International Corporation (NYSE:CAM) shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share. Based on the closing stock prices of both companies on August 25, 2015, the agreement places a value of $66.36 per Cameron International Corporation (NYSE:CAM) share.
However, the plaintiff claims that the proposed consideration NYSE:CAM shareholders will receive is grossly inadequate and undervalues Cameron International Corporation. Indeed, at least one analyst has set the high target price for NYSE:CAM shares at $76.00 per share. Furthermore, Cameron International Corporation reported that its annual Total Revenue rose from over $6.95 billion in 2011 to over $10.38 billion in 2014 and that its respective Net Income increased from $521.9 million to $811 million. In addition, the plaintiff claims that the process is also unfair to NYSE:CAM stockholders
Those who are current investors in Cameron International Corporation shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com