ValueAct is betting their money to the tune of $3 billion on the cost synergy realized from the merger. They only bet on the short term and will cash out for a big profit. They will not invest in Baker Hughes/Halliburton after 3 years. With this money and 5.1% of BHI they'll put one of their guy to be a board member and push Baker execs to speed up the cost synergy and headcount reduction to the fullest. Since they will not be there in the long run, they don't care about the long-term effect as long as they get the return on their $3 billion investment. So expect some major layoffs and facility closing in both Baker Hughes and Halliburton after the deal goes through.
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Halliburton Houston offices had layoff today. It's the top dogs who we should blame, not the poor employees of the two companies.
Let it all fall apart! Sorry SOB's.
And Halliburton employees are so proud right now with this. They finally got technology coming their way. What they don't realize is that they will have just as many cuts on their side as bhi. In fact maybe more.
Anyway goodbye bhi. Cowards.