Everywhere you look were hiring more SLUM and letting more WFD people go. When will it stop? Rumors of more layoffs still on going!! Good luck all.
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Since we're selling pumping would this not remove a major overlap and lessen debt? Our market cap is 5 Billion + debt of 5 billion means we could be bought for ~ 11 billion
Artificial Lift, Sand Control, Tubular Services, Liner Hangers and Float Equipment is something that would fit nicely in both SLB and/or HAL lagging portfolios/product lines.
The BHI/GE merger will impact SLB decisions as they have always prided themselves as being "#1" in the industry. GE's deep pockets and ability at developing tools will be a driver in further M&A. I would think that we may be on HAL radar as well. Anyway, back to work! Lunch is over.
Happy Xmas and Safe Holidays to all!
SLB isn't likely to buy WFT at this point in time. There is a significant overlap in product lines and anti-trust regulators probably would not approve such a merger. They didn't approve HAL - BHI and they still would have been smaller than SLB by itself. Hiring ex-SLB people is the 'smart' thing to do if you are a member of the Board of Directors. It is the smart thing to do because SLB is the largest oilfield service company in the industry. If you promoted from within WFT then it might be said you are not being responsible as a fiduciary and acting in the best interest of the WFT owners (stockholders).
I hope SLUM doesn't buy us. They've let go a lot of good people.
Would they want us?
Same thing happened to Smith prior to SLUM buying them in 2010.
Could SLUM be making a move on us?
Only better management than SLB is GE. If you sirvive, you will thrive. SLB will always be a success. They wil never care about your GIN number. If you are in the bottom 10%, you are gone every year. SLB management will not last long under GE. The workers likely will.