ValueAct Capital Management acquired a 3.5% stake in Halliburton alongside its activist holdings in Baker Hughes. By buying into both sides, ValueAct is betting nearly USD 3 billion that cost and tax savings will strengthen the combined company. The San Francisco-based firm disclosed that it owns approximately 22 million shares in Baker Hughes, equivalent to an approximately 5.1% stake.
Don't miss out on the latest technology delivered to your email weekly. Sign up for the JPT newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.