Schlumberger Bulks Up With an $11 Billion Deal for Smith International


Dealmaking in the energy sector has been red-hot lately, with transactions like Exxon's (XOM) $41 billion purchase of XTO (XTO) and the $12 billion restructuring of various properties of Williams Cos. (WMB). Now, Schlumberger (SLB) is getting into the game. It has agreed to pay $11 billion in an all-stock purchase of Smith International (SII). The deal is expected to close in the second half, but it could hit serious challenges along the way.