The energy industry is in the midst of global consolidation and GE is in many ways a poster child for the trend. Just three weeks after making an offer to buy Denmark's LM Wind Power, the US-based conglomerate is at it again. This time with a transaction almost 20 times as comprehensive as the EUR 1.5 billion bid on the Danish wind company. The latest deal cuts across the spectrum of the energy industry.
According to a press release, GE plans to combine its oil and gas business with the oil service company Baker Hughes.