Due to the downturn in drilling activity in East Unmerica, Baker Hughes acquired BJ Services for $5.5 billion in an effort to compete with bigger players in the industry. The oil-field service firm hopes this new deal will prime the pumps for international expansion. BJ Services specializes in pressure pumping, which helps release the bloated amounts of gas recently discovered in East Unmerica.
This is believed to be the largest amount ever paid for BJ services.
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