Schlumberger in Talks to Buy Smith International

18 February 2010 (Last Updated February 18th, 2010 18:30)

US oilfield services giant Schlumberger is in advanced talks to buy rival Smith International, according to sources close to the deal. The deal is expected to create an industry giant with revenues double that of its nearest rival Halliburton, The Wall Street Journal reported.

US oilfield services giant Schlumberger is in advanced talks to buy rival Smith International, according to sources close to the deal.

The deal is expected to create an industry giant with revenues double that of its nearest rival Halliburton, The Wall Street Journal reported.

The deal, which has not yet been sealed, could still face anti-trust scrutiny in the US and overseas, the paper said.