Pros: good for yes-man, kissups....
Cons: see pros
Cameron bought the smaller company I was working at, LeTourneau. To be fair, at the time of purchase, we were not doing really great but not dead either. As soon as they took over they started "digesting us" into Cameron, implementing their systems, policies, title rankings, etc etc... Interestingly, Cameron did not necessarily do the same with other companies it acquired.
There were a lot of problems with our division, solution was not straightforward but fixing the problems were doable. They just had to get rid of the bad apples and clean house of garbage. Instead they waited and waited until things got really bad, and all of a sudden laid off about 80% of the entire division without considering the consequences.
It is a good place to work at if you are a part of good ole boys club or otherwise a yes man. If you are neither, stay away.