BHGE Changes Its Name to Baker Hughes Company
HOUSTON & LONDON—Baker Hughes, a GE company (NYSE: BHGE) has successfully changed its name to Baker Hughes Company. The company will be known as Baker Hughes, and on October 18, 2019, its Class A common stock will begin trading on the New York Stock Exchange under the symbol “BKR”.
Baker Hughes is uniquely positioned as an energy technology company, with a diverse portfolio that spans the entire energy value chain. The company’s new name and brand better reflect its current and intended principal business operations and diversified portfolio. These changes follow the recently-completed secondary offering of shares of Class A common stock and concurrent share repurchase, bringing General Electric Company and its affiliates’ ownership in the company to below 50 percent of the voting power of all classes of the company’s voting stock.
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50 Years of ANSCA
Fifty years ago, as the Watergate scandal swirled around then-President Richard Nixon, he signed into law the Alaska Native Claims Settlement Act (ANCSA). It was the largest land claims settlement in the nation’s history and a stark departure from agreements forced on Tribes in the Lower 48.