Halliburton and Baker Hughes Reach Agreement to Combine in Stock and Cash Transaction Valued at $34.6 Billion
Halliburton Company and Baker Hughes Incorporated today announced a definitive agreement under which Halliburton will acquire all the outstanding shares of Baker Hughes in a stock and cash transaction. The transaction is valued at $78.62 per Baker Hughesshare, representing an equity value of $34.6 billion and enterprise value of $38.0 …
Halliburton Seeking to Replace Baker Hughes Board after Merger Negotiations Stalled
Oilfield services provider Halliburton Co is seeking to replace the board of smaller peer Baker Hughes Inc, as merger talks between the companies stalled. Baker Hughes said late on Friday that it had rejected Halliburton’s initial proposal, which was made more than a month ago, in a deal that would …
Baker Hughes Completes Weatherford’s Pipeline and Specialty Service Business
Baker Hughes Incorporated and Weatherford International plc today announced that they have closed the previously announced purchase and sale of Weatherford’s pipeline and specialty services business. The acquisition provides Baker Hughes with an expanded range of pre-commissioning, deepwater and in-line inspection services worldwide. The addition of over 700 process and pipeline specialists to Baker …
Aker Solutions and Baker Hughes Form Subsea Production Alliance
Aker Solutions ASA and Baker Hughes Incorporated have agreed to form an alliance to develop technology for production solutions that will boost output, increase recovery rates and reduce costs for subsea fields. The non-incorporated alliance will combine Aker Solutions’ strengths in subsea production and processing systems with Baker Hughes’ expertise …
Baker Hughes Purchases Weatherford’s Pipeline and Specialty Services Business For $250m USD
Weatherford International Ltd. and Baker Hughes Incorporated announce today that they have signed an agreement for the sale of Weatherford’s pipeline and specialty services business to a subsidiary of Baker Hughes for a total consideration of $250 million, including $241 million in cash and $9 million in retained working capital. …
Baker Hughes New CEO, Martin Craighead, Assumes Role
Martin Craighead has assumed the role of Baker Hughes’ President and Chief Executive Officer. Craighead will build upon the successful seven-year tenure of Chad Deaton, who will remain Chairman of the Board of Directors. “During Chad’s tenure, Baker Hughes has undergone a significant transformation positioning us well to execute in …