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Stock Market & Financial Investment News

News Breaks
March 24, 2014
08:13 EDTWFT, BHIWeatherford to sell pipeline and specialty services business to Baker Hughes
Weatherford (WFT) and Baker Hughes (BHI) announce that they have signed an agreement for the sale of Weatherford's pipeline and specialty services business to a subsidiary of Baker Hughes for a total consideration of $250M, including $241M in cash and $9M in retained working capital. The sale is part of Weatherford's previously announced plan to divest its non-core businesses.
News For WFT;BHI From The Last 14 Days
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August 29, 2014
13:07 EDTBHIBaker Hughes reports U.S. rig count up 18 to 1914 rigs
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August 22, 2014
16:18 EDTWFTWeatherford recommends rejection of 'Mini-Tender' offer by TRC Capital
Weatherford International has received notification of an unsolicited "mini-tender" offer by TRC Capital Corporation to purchase up to 5M shares, or approximately 0.65%, of the outstanding ordinary shares of Weatherford at $21.15 per share. TRC Capital's offer is approximately 4.3% below Weatherford's closing price of $22.10 on August 18, the day before the offer commenced. Weatherford does not endorse this unsolicited mini-tender offer and recommends that shareholders reject the offer. Weatherford recommends that shareholders who have not responded to TRC Capital reject the offer by taking no action because the offer is at a price below the current market price for Weatherford shares and is subject to numerous conditions, including any decrease in the market price of Weatherford's shares and the ability of TRC Capital to obtain financing on satisfactory terms. Weatherford further recommends that shareholders who have already tendered shares in TRC Capital's offer withdraw their shares by providing the written notice described in the offering documents prior to the time of expiration stated in the offer, which is on Thursday, September 18.

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