Baker Hughes Incorporated
Shares of both GE and Baker Hughes have been performing well since reports of a deal between the two began surfacing late last week. In the past five trading sessions, GE stock is up more than 2 percent, while Baker Hughes has spiked 13 percent.
"I have felt that GE had kind of an asset-light approach, solutions approach, basically saying listen, when you drill, we can save costs. And then you take a premier drilling service company like Baker Hughes and you merge the two, and suddenly you get a very good rival to Schlumberger," Cramer said on CNBC Monday morning.
If the deal is approved by shareholders and regulators, the new company would be the
Disclosure: The author is long SLB and BHI.
|Oct 2016||Goldman Sachs||Terminates||Neutral|
|Oct 2016||Cowen & Co.||Upgrades||Market Perform||Outperform|
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