GE Intends to Build a Digital-Industrial Oil and Gas Powerhouse Through Merger with Baker Hughes
General Electric and Baker Hughes jointly announced on Oct. 31 the intent to merge the companies’ oilfield-services businesses into a combined entity expected to produce roughly $34 billion in revenue and $8 billion in EBITDA by 2020. GE will contribute 100% of its oil and gas segment and approximately $7.4 billion in cash, financed with a loan from GE Capital at a deal multiple worth roughly 11 times EBITDA, or 6.7 times when factoring in nearly $1.4 billion of anticipated cost and revenue syne...
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