Rumor was that GE was in talks to buy out but then chose the less riskier side and chose to partner on a project, but turns out that GE plans to do an overhaul on all managerial positions to floor workers. Which means either we'll keep our jobs or we won't be apart of the new order that GE is going to be.
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Hurry up GE. Buy this crap company for a tuppence and hire back every one they laid off and fire all on the payroll because they have kept only the imbeciles and those with God fathers still employed. Snakes, liars and unethical people are now managing this company.
GE should wait. This titanic is sinking. Management is incompetent. Buy it for pennies on the dollar.
Do you have any idea how long it takes to for M&A to happen? Any company can announce they are going to buy another company but that doesn't mean the deal is going to go through right away. Actually most deals of larger companies take nearly a year to close. Both parties need to structure the deal as they have stockholder to appease. You are talking the transfer of liability and gaining consent from contracts that one or both companies might have in place in which the M&A would cause problems. There is a whole slew of compliance issues when dealing with money on such a large scale. Oh, let's not forget regulatory compliance either.
GE can do it better
GE will not buy a lame duck, NOV pretty much screwing themselves into the ground.
Ain't gonna happen
I think NOV have been doing a pretty good job of running themselves into the ground, let alone selling out, and letting GE do it.
Ain't no closing the doors by November 2016. Why make up such dramatic nonsense.
If GE buys us. They will do what they did to Hydril and vetco. Run us straight into the ground. Expect many people to jump ship. Brain and experience will be out. Rookies and ladder climbers will be in.