From a reliable source, Baker Hughes officially taking offers starting Jan. 1st.
Option to buy it all or parts of the company.
20 replies (most recent on top)
Any truth to the rumor that we are getting into the coal business?
Complete rubbish!
Not believable until all of Mo--ns Mo--ns are gone.
Until then,
I’m Batman!
Latest rumor is TAQA made an offer and Baker declined saying it was too low. TAQA countered by saying if Baker wants more money then the numbers need to be better. And now we’re seeing rounds upon rounds of layoffs…
BH has been laying off its workforce to a bare minimum and reducing fleet maintenance spending in order to inflate profitability numbers for potential sale. The company has been in a downward spiral over the past few years.
Buying a lottery ticket tonight.
Wait at least for the Year end earning calls at the end of Jan. They will declare stunning successes to pre-position for a sale. Even the stocks now are high so perfect moment to sell. Good luck to whoever buys!!!
Is it for sale then?
Everything must go, 2 for one special. LOLLOL
Waiting for my walking papers as I type. Grimm reaper strikes Druck!
NDA's have been signed by involved leader's.
The pension buyout is to get their balance sheet in order. Why would a company want their Balance sheet in order, to increase their value for a sale.
This would also explain the letter I received in the mail about an offer to take the legacy Baker pension money...either as lump sum payout or annuity, decision due by November 25th. Likely reason, in my opinion, is as part of a reckoning of the true value of company before the "For Sale" sign is stuck in the yard.
Talks with TAQA are still ongoing but they are trying to gain interest from other companies to strong arm them into buying Baker as a whole. Either way, Baker is for sale.
Druck, Panametrics, and Reuter Stokes perhaps. The GE orphans?
@OP+1vmNgny8 so who are the potential buyers? TAQA still in the picture or did they walk away?
What stoneywood guy?
Heard GE shut down aberdeen drilling ops after comments by stoneywood guy.
Segments are already sold… Q1 2025.. big announcements to come
What guy? What was said?
This because the stoneywood guy? Unbelievable.