General Electric Co. is hunting for acquisitions in the beleaguered oil and gas industry after missing an opportunity to buy assets when the merger between Halliburton Co. and Baker Hughes Inc. was scuttled.
GE had been in talks for businesses the two companies were preparing to sell if the combination went through, Chief Financial Officer Jeff Bornstein said in a Bloomberg Radio interview with Tom Moroney and Anne Mostue. After resistance from antitrust authorities forced Halliburton and Baker Hughes to walk away, GE is looking for other deals “at valuations that make sense,” Bornstein said.
