Cameron International Corporation (CAM) – On January 20, 2014, the Company announced an agreement to sell its Reciprocating Compression Division to GE for approximately $550 million subject to closing adjustments. The Company expects to complete the sale in the third quarter of 2014. Cameron also announced its intention to evaluate strategic alternatives for its Centrifugal Compression business, as part of its ongoing effort to optimize the Company’s asset base with a focus on its core markets. Management expects to apply net proceeds from the sale of the Reciprocating Compression Division, estimated at $400 million net of tax, to the share repurchase program under the current authorization. Source: Link
Restructurings
