$5B Baker Hughes, BJ Services Deal Spawns Suits

Law360, New York (September 9, 2009, 2:19 PM EDT) -- BJ Services Co. is facing four shareholder lawsuits alleging that the company's board of directors did not get sufficient value when it agreed in August to be purchased by oil fields giant Baker Hughes Inc. for $4.9 billion.

The two oil services companies agreed to the cash and stock deal on Aug. 30. According to an 8-K filing Tueday with the U.S. Securities and Exchange Commission, the lawsuits followed soon after.

Baker Hughes said that three of the suits were launched in the Delaware Chancery Court...
To view the full article, register now.