The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:** General Electric Co is buying oilfield pump maker Lufkin Industries Inc for $2.98 billion, sharply increasing its presence in the fast-growing market to extract oil and natural gas from shale rock, the conglomerate said on Monday.
Lufkin Industries, Inc. is a global supplier of artificial lift products, technology, services and solutions, including automated control equipment and analytical products for artificial lift equipment, to the oil and gas industry. Shares of LUFK traded higher by 37.59% or $24.03/share to $87.96. In the past year, the shares have traded as low as $45.11 and as high as $80.04. On average, 508110 shares of LUFK exchange hands on a given day and today's volume is recorded at 11469188.
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