Simpson Thacher Advises Conflicts Committee of Board of Directors of Baker Hughes, a GE company on a Series of Long-Term Agreements, Secondary Offering and Stock Repurchase
11.15.18
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Simpson Thacher is advising the Conflicts Committee of the Board of Directors of Baker Hughes, a GE company (“BHGE”) on a series of long-term agreements that amend the company’s commercial and technological relationships with General Electric Company (“GE”), GE’s secondary offering of 92,000,000 shares of BHGE Class A common stock and BHGE’s repurchase of 65,000,000 shares of BHGE Class B common stock from GE. Together, these transactions are expected to reduce GE’s stake in BHGE from approximately 62.5% to just above 50%. BHGE is a full-stream provider of integrated oilfield products, services and digital solutions.
The Simpson Thacher Team includes Alan Klein, Chris May, James Parry and Ethan Kim (M&A); and Marcela Robledo (Intellectual Property).