Buying BJ Services For $5.5 Billion

Posted on August 31, 2009 by Luke Ford

I think the price is a little steep.

From Yahoo Finance:

NEW YORK (Reuters) – Oilfield services company Baker Hughes Inc said on Monday that it would buy peer BJ Services Co for $5.5 billion in a move to take on sector giants Halliburton Co and Schlumberger Ltd.

The stock-and-cash deal values BJ at a 16 percent premium over its closing price on Friday, said the companies, whose boards have approved the transaction.

About Luke Ford

I've written five books (see Amazon.com). My work has been covered in the New York Times, the Los Angeles Times, and on 60 Minutes. I teach Alexander Technique in Beverly Hills (Alexander90210.com).
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