Baker Hughes Reorg/Leadership Change; Buying Back $1B in Debt

Baker Hughes logoRecently the proposed merger/buyout of Baker Hughes (BH) by Halliburton crashed and burned (see Obama DOJ Kills Halliburton/Baker Hughes Merger, Deal “Terminated”). So what happens now? It certainly helped that BH got a $3.5 BILLION break-up fee from Halliburton (see The Road Ahead for Baker Hughes – Post Halliburton Deal). They’ve received the money and per their previous statements, BH is now paying off debts with the money. The company is also changing up its leadership structure, combining and eliminating certain operations–all in a move to make the company stronger to weather the severe downturn in the oilfield services market. Below we have a pair of announcements on the post-Halliburton evolution of BH…

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