By Conor Coyle
Date: Friday 28 Oct 2016
LONDON (ShareCast) - (ShareCast News) - US industrial giant General Electric has held talks with Baker Hughes on a potential merger agreement.
Reports suggest that GE is prepared to fork out more than $20bn for the company, in a move that could radically alter the structure of both firms.
General Electric have announced that they are discussing a variety of options for the merger, but that an outright acquisition is not on the table.
"We are in discussion with Baker Hughes on potential partnerships," a GE spokeswoman said
"While nothing is concluded, none of these options include an outright purchase," the statement added.
Houston-based Baker Hughes has a market capitalisation of around $23bn, and posted revenue of $15.7bn in 2015.
In 2014, it agreed to be acquired by rival Halliburton for $35bn, but the US Justice Department blocked the deal, which ultimately broke down.
Email this article to a friend
or share it with one of these popular networks:
Currency | US Dollars |
Share Price | $ 159.73 |
Change Today | $ 0.00 |
% Change | 0.00 % |
52 Week High | $180.12 |
52 Week Low | $104.92 |
Volume | 15,477 |
Shares Issued | 1,088.42m |
Market Cap | $173,853m |
RiskGrade | 177 |
Strong Buy | 7 |
Buy | 7 |
Neutral | 3 |
Sell | 0 |
Strong Sell | 0 |
Total | 17 |
You are here: research