Monday, June 12, 2017

"Talk About Timing: General Electric Gets the Go Ahead for Baker Hughes Merger" (GE)

From Barron's Stocks to Watch:
On the day General Electric announced a CEO change, the industrial giant also received regulatory approval for its merger with Baker Hughes.

General Electric (GE) announced today that CEO Jeff Immelt would retire in August, giving its shares a 3%+ boost. That news also appears to have overshadowed another piece of news: General Electric received regulatory approval to merge with Baker Hughes (BHI), a merger announced in October.

RBC's Kurt Halleadoffers his take:
Today, Bloomberg is reporting US antitrust authorities granted approval for BHI and GE Oil & Gas to combine as a new public company...MORE
Long-time followers of GE may remember "Ecoimagination".
It was all B.S., just rent-seeking gussied up in verde:
"GE's Immelt wishes he had soft-pedaled green talk" (GE)