The new Baker Hughes, controlled by GE, will be well positioned to reap the contracts if the price of oil rises again, writing companies in a message.
The new company will receive a combined turnover of 32 billion dollars (264,4 billion), with activities in 120 countries. Talks about a merger was first reported by The newspaper The Wall Street Journal late last week.
The merged company to is listed on the New York Stock Exchange and have a shared headquarters in Houston and London. The ceo is Lorenzo Simonelli, Ge’s ceo Jeff Immelt is chairman of the board.
WSJ: Against gigantfusjon between General Electric company and Baker Hughes
Tough time
Oljeservicebransjen is undergoing a tough period of declining activity, because oljegiganter delays projects and reduces the investment, at the same time as they demand more of the suppliers with the objective to increase productivity and profitability.
According to General Electric, the new Baker Hughes achieve samdriftsfordeler of 1.6 billion by 2020.
the Message says nothing about whether the overall workforce will be reduced, which often happens after acquisitions.
General Electric uses nok 7.4 billion to pay shareholders in Baker Hughes a engangssum of 17,50 dollar per share. Baker Hughes-the owner of 37.5 percent of the merged company, while GE will own 62,5 percent.
- the Transaction creates an industry leader, which is in an ideal position to grow in every market, ” says Jeff Immelt, who is the ceo and chairman of GE.
In the last year have Halliburton pay Baker Hughes 3.5 billion dollars in compensation after a planned merger went in the sink.
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