Halliburton To Buy Baker Hughes For $34.6 Billion
Source: NPR
Halliburton, the world's second-biggest oilfield services company, said today it is buying Baker Hughes, the world's No. 3 oilfield services provider, for $34.6 billion.
Bloomberg reports: "With the agreement, Halliburton eliminates a chief rival and expands its business portfolio and reach at a time when falling oil prices have pushed the industry into a downturn. The merger will likely draw intense antitrust scrutiny, especially where North America businesses overlap."
In a statement announcing the deal, Halliburton Chairman and CEO David Lesar said the merger would save the company $2 billion annually.
Once finalized, Baker Hughes shareholders will receive 1.12 Halliburton shares plus $19 for each share they own. That values Baker Hughes shares at $78.62 per share. The company's stock price has fallen more than 30 percent since June, and stood last week at $51. Baker Hughes shareholders would own 36 percent of the combined company.
Read more: http://www.npr.org/blogs/thetwo-way/2014/11/17/364754308/halliburton-to-buy-baker-hughes-for-34-6-billion
= new reply since forum marked as read
...and take it off the pallets.
- K&R
Your tax dollars at rest.
is THAT "Hughes" (at least one of the businesses).
.
