Baker Hughes Inc (BHI) Back To Manufacturing Model - UBS
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Baker Hughes (BHI), Halliburton Ratings Remain on Review for Downgrade at Moody's
May 2, 2016 2:03 PM EDTMoody's Investors Service ("Moody's") will continue its reviews for downgrade of Baker Hughes Incorporated and Halliburton Company (both A2, under review downgrade) following the announcement today that the two companies have terminated the merger agreement they entered into in November 2014, effective April 30, 2016. Moody's expects to conclude both the Baker... More
Baker Hughes (BHI) Announces Cost-Cutting, Business Simplification Plans; Approves $1.5B Stock Buyback
May 2, 2016 7:02 AM EDTFollowing the termination of its merger agreement, Baker Hughes Incorporated (NYSE: BHI) outlined a series of actions to reduce costs and simplify its business, enhance its commercial strategy, and optimize its capital structure.
The steps are intended to strengthen the company's competitive position, financial performance and shareholder returns during the ongoing industry challenges of today and for the additional opportunities that will be available when the market recovers.
Baker Hughes Chairman and CEO Martin Craighead said that the company is well positioned to build on its heritage as a product innovator,... More
Baker Hughes (BHI), Halliburton (HAL) Confirm Merger Termination
May 2, 2016 6:18 AM EDTHalliburton Company (NYSE: HAL) and Baker Hughes Incorporated (NYSE: BHI) confirmed that the companies have terminated the merger agreement they entered into in November 2014, effective April 30, 2016.
While both companies expected the proposed merger to result in compelling benefits to shareholders, customers and other stakeholders, challenges in obtaining remaining regulatory approvals and general industry conditions that severely damaged deal economics led to the... More
