Halliburton, Baker Hughes Overcame $3.3B Gap to Reach Deal, Filings Show Halliburton $HAL yesterday disclosed details of its sometimes tense courtship of Baker Hughes $BHI, showing that the companies had to bridge a $3.3B gap before reaching agreement for HAL to acquire its smaller rival for cash and stock that valued BHI at $34.6B. BHI wanted $36.1B in stock and cash, which was 10% above HAL’s initial offer of $32.8B, and the companies eventually met in the middle during final, over-the-weekend negotiations. Separately, HAL CEO Martin Craigheads email to all employees today did not mention layoffs but noted serious business concerns, saying pricing pressure on its products and services will intensify next year, and market conditions will demand tough decisions from us in the months ahead.”
Posted on: Tue, 23 Dec 2014 16:14:33 +0000
Recently Viewed Topics
© 2015