What does GE’s deal with Baker Hughes mean for the oil industry?

Andy Uhler Oct 31, 2016
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Yasuyoshi Chiba/AFP/Getty Images

What does GE’s deal with Baker Hughes mean for the oil industry?

Andy Uhler Oct 31, 2016
Yasuyoshi Chiba/AFP/Getty Images
HTML EMBED:
COPY

General Electric is seeking to combine its oil-and-gas business with conglomerate Baker Hughes.  The deal, if approved by regulators, will create a new company jointly owned  by GE and Baker Hughes shareholders. Consolidation within oilfield-services allows major players to weather the current tough low-cost oil climate and position themselves for an expected recovery. The move will have implications for the sector and for GE’s ability to compete with rivals such as Schlumberger.

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