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GE said it will sell up to 101.2 million Baker Hughes shares on the open market and that Baker Hughes will buy 65 million of its own shares from GE, using a $1.5 billion repurchase arsenal Baker ...
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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.
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.
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
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]
The slimmed-down company will focus on jet engines, power plants and renewable energy, which GE hopes will reward battered shareholders who have seen the stock lose more than half its value over ...
It was an independent company until being acquired by GE Oil & Gas in July 2013, which later merged with Baker Hughes to create Baker Hughes, a GE Company (BHGE). On June 30, 2020, KPS Capital Partners, LP completed its previously announced acquisition of Lufkin from Baker Hughes. [1]