Baker Hughes And GE Oil & Gas Complete Combination

(RTTNews) - Baker Hughes, a GE company (BHGE), said that the transaction combining GE's oil and gas business with Baker Hughes is complete. The integration of the Russian businesses will be completed upon receipt of Russian regulatory approval.

Class A common stock of Baker Hughes, a GE company will begin trading on the New York Stock Exchange under the symbol BHGE on the opening of the NYSE on July 5, 2017. In connection with the completion of the transaction, the shares of common stock of Baker Hughes Inc. (BHI) will continue to trade on the NYSE until the close of the NYSE today, July 3, 2017, at which point BHI will be delisted from the NYSE.

Stockholders of Baker Hughes immediately prior to the closing of the transaction will receive one share of Class A common stock of Baker Hughes, a GE company and will also be entitled to a special one-time cash dividend of $17.50 per share (to be paid on July 6, 2017).

Following the closing of the transaction and during the NYSE trading day today, July 3, 2017, Baker Hughes will be quoted on the NYSE with the value of the special one-time cash dividend of $17.50 per share.

As a result, a person who purchases one share of common stock of Baker Hughes after the closing of the transaction on July 3, 2017 would be purchasing the right to receive one share of Class A common stock of Baker Hughes, a GE company and the right to receive the special one-time cash dividend of $17.50. Conversely, a person who sells one share of common stock of Baker Hughes on or prior to July 3, 2017 would be selling such rights and would not receive the special one-time cash dividend of $17.50 with respect to such share.