General Electric reached a deal to combine its oil-and-gas business with Baker Hughes, creating a publicly traded energy powerhouse that would give GE a cost-effective way to play any recovery in the industry.
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Post of 1Btk is likely correct. GE does not want or need all aspects of BHI.
You're spot on. Crackerhead said in the investor call last week that he still has another $650millon of cost savings to wring out of Baler Hughes before year end. GE only really wants our FE capability (drilling & wireline) everything else can be bought off the shelf when needed.