“(Reuters) – General Electric Co said it will buy oilfield services provider Lufkin Industries Inc for about $3.3 billion to expand its oil and gas business.
The offer values Lufkin at $88.50 per share, representing a premium of 38 percent to the stock’s Friday close. Lufkin shares rose to $87.97 in premarket trading.
Lufkin, which makes artificial lift technologies and industrial equipment, has operations in the United States, Canada, Latin America, the Middle East and Europe….”
If you enjoy the content at iBankCoin, please follow us on Twitter
