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GE Oil & Gas was the division of General Electric that owned its investments in the petroleum industry.In July 2017, this division was merged with Baker Hughes. [1]The division supplied equipment for the petroleum industry including drilling, subsea and offshore, onshore, LNG, distributed gas, oil pipeline and oil storage, oil refinery and petrochemical.
Baker Hughes Company is an American global energy technology company co-headquartered in Houston, Texas and London, UK.As one of the world's largest oil field services, industrial and energy technology companies, it provides products and services to the oil and gas industry for exploration and production, as well as other energy and industrial applications.
GE acquires Baker Hughes and merges it with GE Oil and Gas to form Baker Hughes a GE Company. [34] 2018 S&P Dow Jones Indices announces that another company will replace General Electric Co. (NYSE:GE) in the Dow Jones Industrial Average (DJIA) effective prior to the open of trading on June 26. [35] 2019
Baker Hughes is still working through its complicated merger with GE's oil and gas business, and that's both good and bad.
General Electric (GE) proceeds with its intended separation from the oil and gas business. It has offered 92 million Baker Hughes shares to public and agreed to sell 65 million shares to Baker Hughes.
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On July 3, 2017, the transaction was completed, and Baker Hughes became a GE company and was renamed Baker Hughes, a GE Company (BHGE). [112] In November 2018, GE reduced its stake in Baker Hughes to 50.4%. [113] On October 18, 2019, GE reduced its stake to 36.8% and the company was renamed back to Baker Hughes. [114]
Today we'll take a closer look at Baker Hughes, a GE company (NYSE:BHGE) from a dividend investor's perspective... Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 ...