EU signs off on Baker Hughes merger with GE Oil & Gas. Any idea how this will affect NOV ?
http://fuelfix.com/blog/2017/05/31/eu-signs-off-on-baker-hughes-merger-with-ge-oil-gas/
5 replies (most recent on top)
Let's not overlook the fact that Rig Systems Joe just sold a bunch of his NOV stock. That should speak volumes as to what NOV is doing. If nothing else, that should even raise a warning flag among the most loyal and fervent deniers. In theory anyway...
NOV should sell everything off.
Just sell it all off.
Seems to me if NOV tried to sell of a business unit or division at a time they'd lose more money than if they sold the whole thing. It feels like a merger or acquisition is forthcoming but there doesn't appear to be too many players left to do it so who knows. Maybe Weatherford?
It shouldn't do much to NOV directly. This is primarily a services and service equipment merger. Since NOV doesn't derive much revenue in Gas Compressors for instance they won't feel too much of a hit. There is some overlap but it isn't a considerable competitive situation between the companies. Indirectly, it provides another narrative for the rest of the world to question what exactly is NOV doing. Every other O&G company is merging and making themselves stronger and NOV is just sitting on their thumbs.