Davis, Polk & Wardwell represents Houston’s Baker Hughes in its pending combination with General Electric Co.’s oil and gas business, creating a company with $32 billion in combined revenue. Shearman & Sterling represents GE in the transaction, which was announced today.
The transaction combines GE’s oil and gas technology, manufacturing and digital business with Baker Hughes’ oil field services business. It comes about six months after Baker Hughes called off plans to merge with Halliburton Co. of Houston in a deal valued at nearly $35 billion when announced in 2014. Davis Polk represented Baker Hughes in that proposed merger.
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