General Electric has begun talks with Baker Hughes for a potential partnership deal. If successful the deal will be the largest GE has made to date.
American multinational conglomerate corporation General Electric has announced earlier today that it has begun negotiations with Baker Hughes, the world’s third most largest oil fields service company, for a potential partnership deal.
If talks are successful, the partnership would become General Electric’s most largest deal in the history of its business affairs. The estimated cost of the deal is almost double the sum General Electric had paid for the acquisition of shares from French multinational company Alstrom. The acquisition, which occurred in 2014, cost the company $13 billion. Baker Hughes has declined comment regarding the negotiations for the potential partnership.
On a similar note in November 2014 Baker Hughes had announced that a planned merge worth $34.6 billion with rival company Haliburton was to begin soon. However the merge had to be canceled in May due to regulators being opposed to the deal.