Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Challo Jeregy who wrote (21796)	5/11/1998 9:04:00 AM
From: marc chatman	Read Replies (1) of 95453

Pretty interesting that WAI is trading more than 10% below the buyout price (based on BHI's Friday close). That means either that the market expects BHI to go down a bit, or there is risk the deal won't be completed, or a combination of the two. (Sorry if I'm stating the obvious). Briefing.com reports that the deal will be slightly dilutive for BHI in year 1. Western Atlas (WAI) 81 3/8: Oilfield services company to be acquired by Baker Hughes (BHI) for $5.5 billion as WAI shareholders will get 2.4 shares of BHI for each SOC share, worth $98.70 based on Friday's closing price of 41 1/8 for BHI. BHI says acquisition will be mildly dilutive in the first year...

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