Now that the HAL / BHI merger is officially dead, GE will swoop in and pick up BHI forabout half ($18B)
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None of that matters. HBI still offers more services throughout the drilling and completions programs than GE. The companies with the best services portfolio will come out on top. None of GE wants to admit it but SLB Cameron will challenge us on all fronts. SLB bought Cameron with majority money's coming from services.
BHI market cap is $20.76B today with stock ~$47
When the deal was originally announced in Nov 2014 the stock was at $51 and jumped to $65 on the day of the announcement. The original offer was based on ~$78 per share.
Since then many things have happened, most notably the price of oil dropped into the 30s and is unlikely to recover for another year or more. Drilling activity has slowed significantly which means the service cos have no work either and will have to lay off even more.
The government requires that a fair price is paid. Additionally stockholders will sue if the "share" price isn't adequate. Do some research it happened with the recent Cameron SLB buyout.
Yep