(Reuters) – Halliburton Co, the world’s second-largest oilfield services provider, said it would buy smaller rival Baker Hughes Inc for about $34.6 billion in cash and stock.
Halliburton said the offer was worth $78.62 per Baker Hughes share, based on Halliburton’s closing on Nov. 12.
The offer is a 31 percent premium to Baker Hughes’ Friday close on the New York Stock Exchange.
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