new companyNews Company was a publicly traded company listed on the NASDAQ Previously integrated in Adelaide , South Australia , the company was re-incorporated beneath Delaware Normal Company Legislation after a majority of shareholders accepted the transfer on 12 November 2004. With headquarters in London and Houston, the mixed company can have roughly $23 billion in annual income and offer oilfield gear together with blowout preventers, pumps, drilling, chemicals, different services and products for oil producers in a hundred and twenty countries.

For Baker Hughes, the deal helps it grow in measurement and develop into a fair-extra necessary player in the industry after antitrust issues scuttled a tie-up final yr with rival Halliburton Co The GE deal vaults the merged enterprise previous Halliburton to rival solely Schlumberger NV for dominance within the world oilfield service market.

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