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Wednesday, October 6, 2010
Wellstream Declines Bid; Ends Takeover Chatter
General Electric said today that its 755 million pound (approximately $1.2 billion) bid to takeover British company Wellstream had been declined. GE said it was disappointed that Wellstream had not accepted the offer. Wellstream is an oil services company that designs and manufactures pipeline products. The company's main focus is the offshore oil and gas industry.
Labels:
General Electric,
Wellstream