Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Smith International, Inc.

BENSALEM, Pa.--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Smith International, Inc. (“Smith International” or the “Company”) related to the Company’s reportedly advanced negotiations to be acquired by Schlumberger Limited (a/k/a Schlumberger N.V.) (“Schlumberger”).

Based on Smith International's current market capitalization of approximately $7.5 billion, and a typical deal premium of 20 percent, the purchase price would be near $9 billion. Schlumberger and Smith International currently operate a 60-40 joint venture called M-I SWACO that supplies drilling fluids and specialty tools to the oil and gas sector. Following news reports that the potential takeover could be announced in the next few days, the price of Smith International shares surged nearly 14% in midday trading. The investigation concerns possible breaches of fiduciary duty and other violations of law if the deal is approved by the Smith International board of directors.

If you own shares of Smith International, Inc., if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.