Baker Hughes: Where’s the Takeover Premium?
October 31, 2016 at 10:20 AM EDT
When news first broke of the deal to combine Baker Hughes ( BHI ) with General Electric's ( GE ) oil & gas business, shares of Baker Hughes jumped 6% . Now, they're down. What gives? Jefferies analyst Brad Handler and team contend that a "quick valuation suggests no premium in General Electric-Baker Hughes combination without synergies." They explain:
