The GE-Baker Hughes deal could indicate a bounce ahead for troubled oilfield services sector. Positioning itself to become the second largest oilfield services provider is one thing, but whether the mega-merger of GE Oil & Gas and Baker Hughes signals an abrupt end to the industry’s bloodletting is quite another. GE Oil & Gas (NYSE: GE) is spinning out the oil and gas part of its business into a merger with Baker Hughes Inc. (NYSE: BHI) that will be structured as a new partnership in which GE will own 62.5 percent and BHI will hold 37.5 percent of the entity. Current BHI shareholders will receive a $17.50 per share cash dividend paid by $7.4 billion from GE, which will total $24 billion. The deal is expected wrap mid-2017. Analysts at Tudor, Pickering, Holt & Co. in Houston said the deal is shrewd strategic move. The “deal makes the new […]