GE Agrees to Buy Wellstream for $1.3 Billion

by Hugh Collins on Dec.13, 2010, under Towing

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…

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GE Agrees to Buy Wellstream for $1.3 Billion originally appeared on DailyFinance on Mon, 13 Dec 2010 06:33:00.

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