Tesco Corporation and Schlumberger announced Monday they have signed a definitive agreement for Schlumberger to acquire Tesco's CASING DRILLING™ division for $45 million in cash.That's about it. The biggest thing that caught my eye: I don't know how important Tesco Drilling is for Schlumberger but it cost them about 1 percent of their cash on hand. One percent of the one dollar I have in my billfold is one penny.
SeekingAlpha.com transcript on merger here.
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