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GE begins divestment of Baker Hughes with $2.7 billion share sale

GE begins divestment of Baker Hughes with $2.7 billion share sale

12.9.2019

GE begins divestment of Baker Hughes with $2.7 billion share sale

Ge neral Electric Co ( GE ) on Wednesday said it plans to reduce its ownership in o...

The U.S. conglomerate, which will lose majority control of Baker Hughes, said it would raise the amount through a public offering of 115 million Baker Hughes Class A shares priced at $21.50 each, and through a private sale of $250 million Class B Baker Hughes shares to the oilfield services provider.

In a separate statement, Baker Hughes said it expects the public offering of its Class A shares to close on Sept. 16, and that underwriters will have 30 days to purchase up to an additional 17.25 million shares from the selling stockholders.

But the issue came under scrutiny last month when Madoff whistleblower Harry Markopolos issued a lengthy report that alleged in part that GE was improperly counting Baker Hughes’ income, capital and cash in GE’s financial statements. GE has maintained its accounting was appropriate.

Read more: Reuters Top News

generalelectric to cede majority control of BHGECO by selling their shares for $2.7B. equilarinc notes GE CEO Larry Culp earned $15,312,165 in 2018 while Baker Hughes CEO Lorenzo Simonelli earned $15,590,514 in 2018 $GE $BHGE execcomp CorpGov Source: If I count how many times I’ve heard about this deal in the past 4-5 years!!

GE to lose majority control of Baker Hughes with up to $3 billion share sale Ge neral Electric is looking to raise up to $3 billion in sale of majority-owned ... Wow! What does that say about their old plan to go dig into oil and gas equipment

GE to cede majority control of Baker Hughes in $2.7 billion share sale Ge neral Electric Co on Wednesday said it plans to reduce its ownership in oil an... generalelectric to cede majority control of BHGECO by selling their shares for $2.7B. equilarinc notes GE CEO Larry Culp earned $15,312,165 in 2018 while Baker Hughes CEO Lorenzo Simonelli earned $15,590,514 in 2018 $GE $BHGE execcomp CorpGov Source:

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GE to cede majority control of Baker Hughes in $2.7 billion share sale Ge neral Electric Co on Wednesday said it plans to reduce its ownership in oil an... generalelectric to cede majority control of BHGECO by selling their shares for $2.7B. equilarinc notes GE CEO Larry Culp earned $15,312,165 in 2018 while Baker Hughes CEO Lorenzo Simonelli earned $15,590,514 in 2018 $GE $BHGE execcomp CorpGov Source:

GE to lose majority control of Baker Hughes with up to $3 billion share sale Ge neral Electric is looking to raise up to $3 billion in sale of majority-owned ... Wow! What does that say about their old plan to go dig into oil and gas equipment

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