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Non-Tech : General Electric (GE)

GE 307.27

+0.7%

Nov 7 9:30 AM EST

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To: Underexposed who wrote (2957)	11/14/2018 9:09:45 AM
From: E_K_S	Read Replies (2) of 3256

Baker Hughes says 92M-share offering by GE priced at $23 Baker Hughes (NYSE: BHGE) -2.4% pre-market after announcing the pricing of the secondary offering of 92M BHGE common shares by General Electric (NYSE: GE) at $23/share, 3.4% below yesterday's closing price, with an underwriters option to purchase up to an additional 9.2M shares. The two companies announced the planned sale yesterday, when BHGE also said it would repurchase 65M of its shares from GE along with a corresponding number of units in the limited liability company that determines ownership. For GE, the sale is expected to yield ~$2.3B - about as much cash as GE raised by cutting its quarterly dividend last month. ------------------------------------------------------- Looks like they will lose $100mln w/ the lower price EKS

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