General Electric is mystery bidder behind British firm Wellstream
US giant General Electric is the mystery bidder planning an £800m takeover of British oilfield services firm Wellstream, according to reports.
Wellstream revealed earlier this month that it had received several approaches.
And sources said that GE had made the first overture and was the front-runner among four firms running the rule over the business.
Mystery Bidder: It appears that General Electric are the firm behind an £800million takeover bid of British oilfield services firm Wellstream
Wellstream derives much of its revenue from Brazil, seen by many in the industry as the next frontier of offshore drilling.
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