Baker Hughes Buyback
OLI recorded this information on 11/6/2017
Company:
Baker Hughes
Buyback:
BHGE buyback
$Amount Authorized:
$3,000,000,000
Buyback Details:
Baker Hughes, a GE company (NYSE:BHGE) ("BHGE" or the "Company") today announced that its Board of Directors has authorized Baker Hughes, a GE company, LLC ("BHGE LLC") to repurchase up to $3 billion of its common units from BHGE and GE. The Company will use the proceeds from the sale of its BHGE LLC common units to repurchase its Class A shares. In addition, the Company also announced its intention for BHGE LLC to issue new debt.
Baker Hughes, A GE is a provider of oilfield products, services and digital solutions. Co. operates four segments: Oilfield Services, which provides products and services for on and offshore operations; Oilfield Equipment, which provides a portfolio of products and services required to facilitate the flow of hydrocarbons from the subsea wellhead to the surface production facilities; Turbomachinery & Processing Solutions, which provides equipment and related services for mechanical-drive; and Digital Solutions, which provides operating technologies helping to improve the health, productivity and safety of asset intensive industries and enable the Industrial Internet of Things.
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Avg. Broker Rec.
 
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Strong Buy (3.86 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
