Activist hedge fund ValueAct Capital disclosed a 5.1 percent stake in Baker Hughes Inc, the world's No. 3 oilfield services company that has agreed to be bought by bigger rival Halliburton Co for $35 billion in cash and stock. ValueAct is now the third-largest shareholder in Houston-based Baker Hughes.ValueAct, whose other investments include acquisitive drugmaker Valeant Pharmaceuticals Inc and fertilizer dealer Agrium Inc, did not disclose in the regulatory filing any steps it wants Baker Hughes to take. (1.usa.gov/1BdlnCw)The world's No.1 oilfield services company Schlumberger Ltd and oil and gas majors such as BP Plc have cut jobs and lowered 2015 budgets due to a 60 percent drop in oil prices.
Agrium Inc. (Agrium) is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU traded higher by 2.31% or $2.26/share to $100.12. In the past year, the shares have traded as low as $82.02 and as high as $103.93. On average, 747960 shares of AGU exchange hands on a given day and today's volume is recorded at 664797.
BP p.l.c. (BP) is an integrated oil and gas company. Shares of BP traded higher by 5.96% or $2.13/share to $37.86. In the past year, the shares have traded as low as $34.88 and as high as $53.48. On average, 8329970 shares of BP exchange hands on a given day and today's volume is recorded at 15372039.
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