Following the considerable sale of General Electric stock, Baker Hughes has successfully changed its name to Baker Hughes Company. It is no longer Baker Hughes GE.
The change will take place officially Friday, October 18, the date that its Class A common stock will begin trading on the New York Stock Exchange under the symbol “BKR”.
In a company announcement, the firm said its 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.
