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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: A. Fineigler who wrote (21790)	5/11/1998 8:18:00 AM
From: Broken_Clock	Respond to of 95453

''The oil services sector is going to be pretty hot on the Western Atlas bid and the Ameritech bid is going to set the telecom sector on fire,'' said one dealer here. ''And with some spill over from Friday's gain, you would have to call the market higher at the outset.'' biz.yahoo.com

To: A. Fineigler who wrote (21790)	5/11/1998 8:39:00 AM
From: Anthony Wong	Respond to of 95453

Geophysique Surges After Baker Hughes Buys Western Atlas Bloomberg News May 11, 1998, 2:51 a.m. PT Paris, May 11 (Bloomberg) -- Geophysique SA shares surged as much as 9.9 percent amid takeover speculation prompted by the $6.2 billion acquisition of U.S. rival Western Atlas Inc. by Baker Hughes Inc. ''Last week it was the carmakers, last month it was the banks and now its the oil-services companies,'' said Jorg Holtz, an equities salesman at brokerage Natexis. Geophysique rose as high as 92 francs to 1,018. Shares were at 1,000 francs in midday trading, up 8 percent. Based on Friday's closing prices, Baker is offering $98.70 a share in its stock for each Western Atlas share, or a total of $5.5 billion. The offer is a 21 percent premium to Western's closing price on Friday and was approved by Western's board. Baker would assume about $700 million in debt. Last week Geophysique, which offers oil-exploration services to the oil industry and make seismic instruments, said it was regrouping its North American and Latin American operations into one single unit. --David Tweed in the Paris newsroom (33 1) 53 65 5062/lq