General Electric Co. (GE) will buy Wellstream Holdings Plc (WSM), a British oilfield-services provider focused on the Brazilian market, for 800 million pounds ($1.3 billion).
The deal is worth 786 pence per share of Wellstream, including a 6 pence special cash dividend, Bloomberg News reported. That’s 29% higher than the stock’s closing price on Sept. 20, the day before Wellstream said it had…
Continue reading GE Agrees to Buy Wellstream for $1.3 Billion
GE Agrees to Buy Wellstream for $1.3 Billion originally appeared on DailyFinance on Mon, 13 Dec 2010 06:33:00.
Filed Under: Energy, Company News, Technology, General Electric