GE Posts Supplemental Financial Information on GE Oil & Gas

GE Posts Supplemental Financial Information on GE Oil & Gas

http://www.ge.com/investor-relations/ir-events/ge-4th-quarter-2016-earnings-webcast. As previously announced on October 31, 2016, GE and Baker Hughes (NYSE: BHI) have agreed to combine GE Oil & Gas and Baker Hughes to create a world-leading oilfield technology provider with a unique mix of service and equipment capabilities. By drawing from GE technology expertise and Baker Hughes capabilities in oilfield services, the new company will provide best-in-class physical and digital technology solutions for customer productivity. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, at the closing of the transaction Baker Hughes shareholders will receive a special one-time cash dividend of $17.50 per share and 37.5% of the new company. GE will own 62.5% of the company. The transaction is expected to close in mid-2017. Source / More: GE oilandgasOil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook ]]>

#FOLLOW US ON INSTAGRAM