Cactus gains following decision to acquire controlling interest in Baker Huges' unit
ReutersJun 2, 2025 4:45 PM
Shares of oilfield equipment maker Cactus WHD.N up 1.4% at $41.45
Company says it will buy 65% interest in Baker Hughes' BKR.O surface pressure control (SPC) business for $344.5 million
Both BKR and WHD have agreed to form a joint venture to hold the SPC business, where BKR will retain a 35% stake post-closing
Transaction is expected to close in the second half of 2025
Including session's moves, WHD down ~29% YTD
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