GE to lose majority control of Baker Hughes with up to $3 billion share sale

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Go back to GE to lose majority control of Baker Hughes with up to $3 billion share sale

Baker Hughes, a GE company (BHGE) Prices 115M Share Secondary Offering by General Electric (GE) at $21.50/Sh

September 12, 2019 5:57 AM EDT

Baker Hughes, a GE company (NYSE: BHGE) announced today the pricing of a secondary offering (the offering) of 115 million shares of BHGE Class A common stock, par value $0.0001 per share (the Class A common stock) by General Electric Company (NYSE: GE) and GE Oil & Gas US Holdings I, Inc., GE Holdings (US), Inc. and GE Oil & Gas US Holdings IV, Inc. (collectively, together with GE, the selling stockholders) at a price to the public of $21.50 per share. The underwriters will have a 30-day option to purchase up to an additional... More

Stifel Reiterates Buy Rating on Baker Hughes, GE Company (BHGE) Following Announced Offering

September 11, 2019 6:59 AM EDT

Stifel analyst Stephen Gengaro reiterated a Buy rating and $34.00 price target on Baker Hughes, GE Company (NYSE: BHGE) following the company's announced a 105 million share offering for GE as well as the repurchase of $250 million Class B shares from GE. Gengaro believes... More