Halliburton Company to Acquire Baker Hughes Incorporated (HAL, BHI)

Halliburton Company to Acquire Baker Hughes Incorporated (HAL, BHI)

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Shares of Baker Hughes Incorporated (BHI) surged on Monday morning following reports that Halliburton Company (HAL) has agreed to acquire the company.

After reports that the two companies were in discussions, Halliburton announced that it will now acquire all outstanding shares of Baker Hughes for $78.62 per share – or a total value of $34.6 billion. When the deal is completed, BHI shareholders will own 36% of the company.

This deal will help the companies deal with the drop in oil prices – as both of the companies have struggled recently.

Halliburton shares were down $1.88, or $3.41%, during pre-market trading Monday. The stock is up 8.53% YTD.

Baker Hughes shares were up $9.81, or 16.38%, during pre-market trading Monday. The stock is up 8.38% YTD.

The Bottom Line

Baker Hughes Incorporated (BHI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Halliburton Company (HAL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.