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Category: Investment, Natural Gas
Energy Commentary; M&A Activity Predicted by Energy Executive Karl Miller
Energy Commentary from Karl Miller - Read Bio and More info
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WA, Delta B.C. - February 23, 2010 (Investorideas.com Energy Newswire) - www.InvestorIdeas.com, a leading investor research portal reports on recent M&A activity in the energy sector. Energy executive and frequent contributor Karl Miller has predicted the current trend in recently published commentary.
Recent M& A activity: Schlumberger Ltd (NYSE: SLB) and Smith International, Inc. (NYSE: SII) $11 Billion Dollar Deal
February 21 - Schlumberger Ltd (NYSE: SLB) and Smith International, Inc. (NYSE: SII)) jointly announced that their Boards of Directors have unanimously approved a definitive merger agreement in which the companies would combine in a stock-for-stock transaction.
Under the terms of the agreement, Smith shareholders will receive 0.6966 shares of Schlumberger in exchange for each Smith share. Based upon the undisturbed closing stock prices for both companies on February 18, 2010, the agreement places a value of $45.84 per Smith share, representing a 37.5% premium. Upon closing, and reflecting the issuance of new Schlumberger shares, Smith stockholders collectively will own approximately 12.8% of Schlumberger's outstanding shares of common stock.
Schlumberger expects to realize incremental pretax synergies—after integration costs—of approximately $160 million in 2011 and approximately $320 million in 2012. Schlumberger expects the combination to be accretive to earnings per share in 2012.
Mr. Miller is acclaimed for multiple ground breaking market calls and investments, including the U.K switching from a net gas exporter to a net gas importer in 2000, called the California energy crisis in 2001, called the Ethanol and Bio diesel boom and bust in 2007, called the renewable energy boom and bust cycle underway in 2008, and most recently called the revival of natural gas in the United States in 2009.
His article "U.S. Renewable Energy: A Self-Inflicted Crisis in the Making" has become one of the most read articles on the Investor Ideas website.
Mr. Miller is a globally recognized energy executive and institutional investor with a balance of both financial and energy sector expertise. Mr. Miller began his career on Wall Street during the 1980s and has an extensive background in banking, commodities trading and risk management.
Mr. Miller has a long history in the global energy business and has held a variety of executive management positions both within the United States, Europe and Asia. Mr. Miller has bid on over $25 billion in energy related assets during his career.
Mr. Miller has built, restructured and managed energy businesses for major public energy companies on several continents, including PG&E Corporation, Electricite de France, El Paso Energy, Enron Corporation and JPMorgan Chase.
Mr. Miller has recently joined Investor Ideas as a regular contributor for the energy sector. Investors can follow Mr. Miller at:
Karl Miller Energy Commentary, Bio and Disclaimer:
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Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com
Source - Investorideas.com
Mr. Miller is currently on Medical Leave.
Disclaimer:
This column, Energy Commentary from Karl Miller, is the opinion of Karl Miller.
Content found in the articles is subject to the terms found in the InvestorIdeas.com disclaimer and does not represent a recommendation of investment advice. Investors should seek the advice of a qualified investment professional prior to making any investment decisions.
U.S. Utilities and Natural Gas producers are the best "Safe Haven" after U.S. Treasuries Plus You Collect a Dividend, Not Zero Percent Interest Rate" at the following link: http://www.naturalgasstocks.com/Karl_Miller/news/2046.asp
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