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Cactus Announces Agreement to Acquire 65% Controlling Interest in Baker Hughes' Surface Pressure Control Business

1. Cactus, Inc. acquires 65% of Baker Hughes' Surface Pressure Control Business. 2. Deal enhances WHD's operational control in pressure control solutions.

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$4106/02 08:49 AM EDTEvent Start
$44.09106/03 03:17 PM EDTLatest Updated
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FAQ

Why Bullish?

The acquisition aligns with WHD's growth strategy and expands its market share, similar to previous strategic acquisitions that boosted financial performance in oilfield services.

How important is it?

The acquisition is significant for WHD’s growth strategy and operational capabilities, highlighting a strong market position.

Why Long Term?

The acquisition positions WHD for sustained growth, following the trend of mergers in this sector, supporting long-term profitability.

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BKR
HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus” or the “Company”) announced today that its subsidiary Cactus Companies, LLC has entered into a definitive agreement with certain subsidiaries of Baker Hughes Company (“Baker Hughes”) to acquire 65% and assume operational control of the Baker Hughes Surface Pressure Control Business (“SPC” or the “Business”). SPC designs, manufactures and services specialized surface pressure control solutions, primarily wellheads and production tree e.

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