01
Nov
16:55
GE merges oil/gas business with Baker Hughes
General Electric (GE) confirmed on 31 October that it is to merge its oil and gas business with the No. 3 oilfield services provider, Baker Hughes.
Under the terms of the deal, Baker Hughes shareholders will receive a special, one-time cash dividend of $17.50 per share — $7.5 billion — and 37.5% of the new, New York Stock Exchange-traded company. GE will control the new company, Kallanish Steel’s sister publication Kallanish Energy reports.
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Anonymous
Very good overview of the weekly steel market.
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