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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| GE Aerospace | NYSE:GE | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 1.85 | 1.14% | 164.49 | 165.74 | 162.0101 | 165.30 | 3,967,223 | 01:00:00 |
From May 2019 to May 2024
General Electric Co. is in talks to buy Baker Hughes Inc., according to people familiar with the matter, a transaction that would be the biggest in the history of the industrial giant and extend its bet on the battered oil industry.
GE has approached the oil-field services company about a takeover, the people said, but details of the talks couldn't be learned, and the talks could fall apart before an agreement is reached.
With a market value of $23 billion, Houston-based Baker Hughes could go for more than $30 billion in a takeover, given the typical premium. GE has a market value of $259 billion.
In 2014, Baker Hughes agreed to sell itself to rival Halliburton Co. for $35 billion, or $78.62 per share. Earlier this year, the Justice Department filed a lawsuit to block the proposed merger, and the deal fell apart.
Baker Hughes shares closed Thursday at $54.55.
Ted Mann and David Benoit contributed to this article.
Write to Dana Mattioli at dana.mattioli@wsj.com, Kate Linebaugh at kate.linebaugh@wsj.com and Joann S. Lublin at joann.lublin@wsj.com
(END) Dow Jones Newswires
October 27, 2016 19:15 ET (23:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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