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HBJ Deal of the Week: Baker Botts Recognized for Antitrust Work on $850 Million Cameron Deal

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HOUSTON, August 22, 2014 -- Houston Business Journal editor, Emily Wilkinson selected Cameron International Corp. pending sell of its centrifugal compression business to Dublin, Ireland-based Ingersoll Rand PLC (NYSE: IR), a heating and air-conditioning systems manufacturer, for $850 million in cash as this weeks “Deal of the Week.”

Baker Botts served as antitrust counsel to Cameron in the sale. Partner Sean Boland and associate Ryan Foley, both in the firm’s Washington office, handled the matter on behalf of Baker Botts.

Cameron is hoping that with this sell they will dive deep and focus on its core market which is energy. Cameron — one of Houston’s largest public companies with 2013 revenue of $9.8 billion — will net about $600 million from the deal, after taxes, and will use the proceeds to fund stock repurchases. The deal is expected to close by the end of 2014.

The entire Houston Business Journal article can be found here. (Subscription required)



About Baker Botts L.L.P.
Baker Botts is an international law firm of approximately 700 lawyers practicing throughout a network of 15 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Throughout our 174-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit BakerBotts.com.

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