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Posted on 5/2/16 at 6:54 am to lynxcat
It's not necessarily a "market share" issue, more of a company valuation issue. Baker Hughes took a ~30% hit in stock value since this started as opposed to Halliburton at half that (15%). This has left Baker de-valued big time. It may very well put Halliburton in the same position in the near future, but from the start, this leaves Baker weaker.
Only saving grace for Hal may be that people view it as cutting their losses and that losing 3.5B is better than taking on a company paying 78 bucks a share when it's now only worth 46. But it still is a very bad situation. I think Baker and Hal are both going to be getting some new CEO's in the next few months. What a waste of money for both companies at such a difficult time for the industry.
Only saving grace for Hal may be that people view it as cutting their losses and that losing 3.5B is better than taking on a company paying 78 bucks a share when it's now only worth 46. But it still is a very bad situation. I think Baker and Hal are both going to be getting some new CEO's in the next few months. What a waste of money for both companies at such a difficult time for the industry.
Posted on 5/2/16 at 4:17 pm to lynxcat
It's a fact that market share was lost due to the former pending "merger".
How much? It's hard to put a number on it.
How much? It's hard to put a number on it.
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