BAKER HUGHES BUYS WEATHERFORD
HBJ. Weatherford International Ltd. (NYSE: WFT) will sell its pipeline and specialty services business to a subsidiary of Houston-based Baker Hughes Inc. (NYSE: BHI) in a $250 million deal.
The deal includes $241 million in cash and $9 million in retained working capital, the companies said March 24.
It's also part of Weatherford's previously announced plan to divest its noncore businesses. Switzerland-based Weatherford, which has its operational headquarters in Houston, has been restructuring its business for some time.
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