Baker Hughes (BKR) announced Thursday it has completed its all-cash, $540 million acquisition of Continental Disc Corporation, CDC, from investment partnerships managed by Tinicum Incorporated. The company said, “the transaction brings a complementary portfolio of products to Baker Hughes’ existing valves product line, expanding the company’s addressable market in the flow control market with the addition of CDC’s well-established critical pressure management solutions.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKR:
- Baker Hughes price target raised to $52 from $44 at BofA
- Baker Hughes reports U.S. rig count down 2 to 540 rigs
- Baker Hughes price target raised to $58 from $54 at Jefferies
- Baker Hughes price target raised to $53 from $46 at BMO Capital
- Baker Hughes’ Strategic Acquisition and Financial Prospects Drive Buy Rating