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Cameron International (CAM) will pay $250M to BP (BP) over the Deepwater Horizon disaster. In...
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Friday, December 16, 2011, 2:15 AM ETCameron International (CAM) will pay $250M to BP (BP) over the Deepwater Horizon disaster. In return, both sides will drop their charges against each other and BP will indemnify Cameron against claims under the U.S. Oil Pollution Act and other third-party claims. Cameron's insurers will cover at least $170M of the settlement, and will take a Q4 charge over the rest. (PR)
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Long BP.