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2017-07-05 12:10:00

GE & BAKER HUGHES DEAL

GE & BAKER HUGHES DEAL

WSJ General Electric Co.  closed its deal to combine its long-suffering energy business with Baker Hughes Inc. on Monday, creating one of the largest companies in the oil-field services industry.

The new publicly traded company, which will retain the Baker Hughes name, will pursue further cost cuts as it awaits an elusive recovery in oil prices. Majority-owned by Boston-based GE, it will trade on the New York Stock Exchange under the symbol BHGE, with dual headquarters in Houston and London.

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Tags: GENERAL, ELECTRIC, BAKER, HUGHES
Chronicle:
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