4 Months After Buying Baker Hughes, GE Wants to Sell It

Industrial giant GE (General Electric) wooed and won the hand of Baker Hughes (BH)–the third largest oilfield services company in the world–buying/merging in Baker Hughes with GE’s Oil and Gas division just four months ago (see Baker Hughes and GE Complete Merger, World’s 1st Fullstream Co.). It didn’t take much for BH to say “yes” to GE’s proposal for marriage, coming off a botched attempt at marriage with Halliburton–a deal that the Obama DOJ destroyed (see Obama DOJ Kills Halliburton/Baker Hughes Merger, Deal “Terminated”). But now, four months into wedded bliss, GE has a new CEO and he wants out of the marriage. CEO John Flannery is looking to sell all of, or part of, GE’s majority stake in what is now called “Baker Hughes, a GE Company.” GE wants the nameplate on the door to just say “Baker Hughes, a Company.” Man oh man–four months and he already wants out of the marriage. What does that do to the self-esteem of the BH bride? Maybe GE can get an annulment? After all, it’s only been four months…

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