General Electric Is Talking With Baker Hughes, But No 'Outright Purchase'

General Electric said it's in discussions with Baker Hughes, but not for an outright takeover, following reports that GE was in talks to buy the oil services firm. (iStockphoto)

ED CARSON10/28/2016

General Electric (GE) said late Thursday that it's in talks with oil services firm Baker Hughes (BHI) about an alliance, but not an outright purchase.

"We are in discussion with Baker Hughes," GE spokeswoman Deidre Latour said in a statement. "While nothing is concluded, none of these options include an outright purchase."

That following media reports, initially from the Wall Street Journal, citing sources that General Electric had approached Baker Hughes.

GE could merge its oil-and-gas business with Baker Hughes, creating a stronger competitor Schlumberger (SLB) and Halliburton (HAL), the No. 1 and No. 2 oil services firms.

Comment! It's anonymous!

6 replies (most recent on top)

We shall see how relevant the transformation is now.

It would be hilarious to see GE/BH run Scumberger completely out of the business.

Let's how BHI will kick PK's a-- by real new technologies from synergy with GE, not like SLB by just bullying.

Anyone in the service industry knows that when the frac'rs get the sniffles, everyone else catches the cold. Huge fixed costs, operating costs difficult to control, and too many mom-and-pops out there keeping prices down - SLB stays in it only so that they can tell NOC's that they have the necessary experience required in those 500-page RFP's.

Good, I hope they do. Schlumberger's management style is a complete joke.

GE has proper "best in class " management. Not " tell ourselves we are best in class" management. Slb is going to get its arse handed to it...

Thread regarding Schlumberger Ltd. layoffs

General Electric Is Talking With Baker Hughes, But No 'Outright Purchase'

6 replies (most recent on top)

Post a reply