SII meaning in Business ?

Answer: What is Smith International, Inc. mean?

Smith International was a Fortune 500 company headquartered in the Greenspoint district and in unincorporated Harris County, Texas. Smith International ceased to exist as an independent company following the merger with Schlumberger. This company supplies products to gas and oil production and exploration companies. The company used to be identified by its red Sii logo. The company has recently changed its logo to consist of the word "SMITH" in black capital letters with a green globe.

A February 21, 2010 announcement said Schlumberger would acquire the company in an all-stock deal valued at $11.3 billion. The sale price of 45.84 per share was 37.5 percent higher than Smith's closing price on February 18, 2010. The deal is the biggest acquisition in Schlumberger history.

The merger received unconditional approval from the US Department of Justice on July 27, 2010. Subsequently, the merger with Schlumberger was completed on August 27, 2010.

reference

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