Skip to main content
Publish date:

General Electric, Baker Hughes Reach Powerhouse Energy Deal

Baker Hughes (BHI) and General Electric (GE) have entered into an agreement to combine GE's oil and gas business with Baker Hughes.
Author:

Baker Hughes (BHI)  and General Electric (GE) - Get General Electric Company (GE) Report  have entered into an agreement to combine GE's oil and gas business with Baker Hughes. The $30 billion deal creates and energy powerhouse with an estimated $25 billion in revenue, according to the Wall Street Journal. The combined company could cut costs to better compete with rivals such as Schlumberger (SLB) - Get Schlumberger NV Report to provide equipment to oil rigs and wells. Honda (HMC) - Get Honda Motor Co., Ltd. Sponsored ADR Report  is boosting its profit forecast as SUVs lead a sales surge. It says sales in China were especially strong, which is Honda's second largest market. Honda boosted deliveries of the Vezel and XR-V models each by more than 50%. Tesla (TSLA) - Get Tesla Inc Report  CEO Elon Musk unveiled new solar roof tiles for the home. They are made of glass. The tiles look like current roofing materials and style and Musk says they will be prices competitively with current roofing systems.

TheStreet Recommends