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Form 8806 - Smith International, Inc.


Name and address of the reporting corporation:

Smith International, Inc.
P O Box 60068
1301 Rankin Road
Houston, TX  77205

Date of transaction:


Description of the transaction

On August 27, 2010, Schlumberger Limited ("Schlumberger") acquired all of the outstanding stock of Smith International, Inc. ("Smith") in a merger of Turnberry Merger Sub Inc., a direct wholly-owned subsidiary of Schlumberger, with and into Smith. In the merger, each Smith shareholder received 0.6966 shares of Schlumberger common stock in exchange for each Smith share, with cash paid in lieu of any fractional shares of Schlumberger common stock.

This Form 8806 is being filed on a protective basis only. Smith has reasonably determined that each of its shareholders that is not a "five-percent transferee shareholder" within the meaning of reg. § 1.367(a)-3(c)(5)(ii) is not subject to gain recognition under section 367(a) and the regulations thereunder, and therefore all such shareholders are "exempt recipients" within the meaning of reg. § 1.6043-4(b)(5)(i). However, Smith has been unable to reasonably determine whether any shareholder that may be a five-percent transferee shareholder is subject to gain recognition under section 367(a) and the regulations thereunder and is not otherwise an "exempt recipient" within the meaning of reg. § 1.6043-4(b)(5).

Did the reporting corporation’s shareholders receive any stock or other property in exchange for their stock in  the reporting corporation, for which the reporting corporation has reasonably determined that the shareholders are required to recognize gain (if any).from the exchange of such stock?


Fair market value of the stock or other property received


Description of the stock or other property received