Deutsche Bank Believes SII’s Acquisition Will Put Pressure On HAL, WFT
According to Deutsche Bank, Smith International (NYSE: SII) is unlikely to receive a higher offer than what is being offered by Schlumberger (NYSE: SLB). SLB’s $11 billion takeover offer already includes a "healthy premium" for SII.
Deutsche Bank believes that SII’s acquisition will put pressure on Halliburton (NYSE: HAL) and Weatherford (NYSE: WFT). These two companies will either have to merge or formulate a strong strategy to compete.
Deutsche considers National Oilwell Varco (NYSE: NOV) as a "wild-card." NOV has been growing its service businesses.
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